Hamet Watt, co-founder of the now-defunct MoviePass, is turning the page on his previous venture’s struggles and is launching a new initiative aimed at fostering innovation in the startup ecosystem. His new company, Share Ventures, is on a mission to develop and fund emerging startups, primarily focusing on the sectors of future work and longevity.
Watt has successfully raised nearly $20 million for Share Ventures, attracting notable investors including tech giants Alphabet and Amazon. He believes that the current climate—characterized by a surge in artificial intelligence advancements and high interest rates—provides a ripe environment for a unique business model. Share Ventures is also pioneering its own software alongside sophisticated language models aimed at streamlining its internal operations.
In an interview, Watt explained that smaller funds can still yield significant returns in the venture capital landscape. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he stated. This agile approach allows Share Ventures to build companies from the ground up by leveraging advanced technologies proactively.
Watt has expressed concern that many venture firms investing in novel technologies are not fully integrating these tools into their operations. He aims to differentiate Share Ventures by employing automation and new data methodologies in their processes.
His personal experiences have also shaped his interests; after losing his mother at a young age, he developed a keen interest in health and longevity, motivating him toward ventures that could impact this space. Reflecting on his trials with MoviePass, which he discussed in recent media, Watt is inspired to continue innovating. He embraces the potential for failure but also the possibility of success that comes with taking risks.
In summary, Hamet Watt’s transition from MoviePass to Share Ventures highlights his resilience and commitment to innovation. His focus on building a differentiated venture capital model utilizing AI and automation underscores the potential for startups to thrive in today’s technological landscape. With a poignant personal history fueling his vision, Watt represents hope for the future of venture capitalism and the advancement of health and longevity.
This story serves as a reminder that setbacks can fuel new beginnings, inspiring entrepreneurs to drive forward innovative ideas that can change industries and improve lives. Watt’s journey illustrates that the spirit of entrepreneurship persists alongside both successes and failures.