The co-founder of MoviePass, Hamet Watt, is shifting his focus from the company’s dramatic collapse to establishing a new venture studio aimed at developing and funding startups. His new endeavor, Share Ventures, has already secured nearly $20 million in funding from reputable backers, including industry giants Alphabet and Amazon.
Watt’s new company is dedicated to startups that focus on the future of work and longevity, sectors he believes hold substantial potential in the current economic climate, which includes the rising influence of artificial intelligence and high interest rates. He emphasizes a unique approach to venture capital that doesn’t require large funding amounts but instead leverages advanced tools and technology for efficiency.
Watt explained that his firm plans to create proprietary software and utilize complex language models to streamline its internal processes. As he stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.”
His personal experience also drives his passion for health and longevity; losing his mother at a young age profoundly impacted his outlook on life and mortality, igniting a desire to make advancements in these fields.
Though his previous venture with MoviePass did not succeed as planned, Watt views this experience as an opportunity to learn and adapt. He remains optimistic about the future, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”
In summary, Watt’s transition from MoviePass to Share Ventures reflects a resilient entrepreneurial spirit, with a focus on innovation and leveraging new technologies to create impactful startups. His journey underscores the importance of learning from failures and the potential for success through perseverance in the face of adversity.
This narrative serves as an inspiration for aspiring entrepreneurs, highlighting that setbacks can lead to new opportunities and innovative solutions.