The co-founder of MoviePass, Hamet Watt, is embarking on a new journey after the company’s downfall, launching Share Ventures, a venture studio designed to support and fund startups. Since its inception in 2011, MoviePass aimed to revolutionize movie-watching by allowing subscribers unlimited access to theaters through a monthly fee. Despite its eventual collapse, Watt remains optimistic and is channeling his experience into this new venture.
Share Ventures has already attracted nearly $20 million in funding from major investors, including Alphabet and Amazon. Watt envisions focusing on startups that operate within the realms of future work and longevity, harnessing the current AI boom and adjusting to high-interest rates to capitalize on investment opportunities. He believes there’s a shift towards a model in venture capital that requires less funding, allowing businesses to identify opportunities with smaller initial investments.
Watt emphasizes that Share Ventures stands out by utilizing advanced technology and automation in its operations, setting it apart from other firms that invest in emerging technologies without fully integrating them into their processes. This unique approach to data and automation reflects their commitment to innovation.
His personal connection to health and longevity stems from the early loss of his mother at the age of 49, prompting a deep reflection on mortality that inspires his current focus. This experience has fueled Watt’s determination to create impactful ventures, even after facing challenges with MoviePass.
Watt’s motto seems to be one of resilience, urging that while failure is a possibility, the potential for success drives the innovation forward. As he seeks to redefine the startup landscape, his journey is a testament to the idea that setbacks can lead to new beginnings.
In summary, Hamet Watt is pivoting from the lessons learned at MoviePass into a promising new venture, Share Ventures, aimed at fostering startups with a fresh approach to investment and technology. His personal narrative and commitment to innovation offer hope for the future of both his endeavors and the startups he aims to support. The narrative reflects a spirit of perseverance that inspires many entrepreneurs facing their own challenges.