Hamet Watt, the co-founder of the now-defunct MoviePass, is embarking on a new chapter by launching Share Ventures, a venture studio focused on developing and funding innovative startups. After the remarkable rise and subsequent fall of MoviePass, which introduced the groundbreaking concept of a monthly subscription for unlimited movies, Watt is redirecting his energy into a promising new endeavor.
Share Ventures has already raised nearly $20 million in funding, attracting the attention of prominent backers such as Alphabet and Amazon. The firm aims to concentrate on sectors related to the future of work and longevity, areas that are becoming increasingly relevant in today’s fast-paced environment.
Watt believes that the current landscape for venture capital is evolving, driven by advancements in artificial intelligence and higher interest rates. He highlights the advantages of a more agile investment approach, stating that it’s now possible to identify opportunities with less capital earlier on in the process. This new strategy allows Share Ventures to build companies from the ground up using cutting-edge tools and technologies.
He recognizes that while many venture firms are investing in novel technologies, few are actually adopting these tools to enhance their operations. Watt differentiates Share Ventures by committing to utilizing automation and innovative data-driven techniques in their processes.
Watt’s personal journey has also shaped his new venture. Having lost his mother at a young age, he has a profound interest in health and longevity, which motivates the direction of his work. He remarked on how such experiences prompt a deeper reflection on life and mortality, which fuels his desire to innovate.
Despite the challenges faced with MoviePass, Watt views his past as a learning opportunity that fuels his passion for entrepreneurship. He embraces the possibility of failure as a part of the innovation process, blending lessons from the past with a forward-thinking vision.
In conclusion, Watt’s new venture presents an optimistic outlook for the future, as he aims to create meaningful impact through technology and startups focused on health, work, and longevity. His resilience and drive to innovate demonstrate that, even after setbacks, there is potential for growth and development in new fields.