The co-founder of MoviePass, Hamet Watt, is embarking on a new venture following the company’s downfall, as he raises funds for Share Ventures, a studio aimed at developing and funding innovative startups. This initiative is poised to channel nearly $20 million in funding, with significant backing from industry giants like Alphabet and Amazon.
Watt’s focus is on startups in the realms of workplace innovation and health longevity. He believes the current landscape, marked by an AI surge and rising interest rates, presents an opportunity for a new venture capital model. Share Ventures plans to integrate sophisticated software and language models to enhance efficiency in its operations. Watt emphasizes that his approach will allow for earlier detection of opportunities with less financial outlay, an advantageous strategy for building companies from the ground up.
He also highlighted a gap in the venture capital realm, where many firms invest in breakthrough technologies without effectively utilizing them in their operations. Watt’s strategy encompasses the use of novel data and automation to set Share Ventures apart.
Motivated by personal experiences, particularly the loss of his mother at a young age, Watt’s commitment to health and longevity has intensified. He reflects on this loss as a pivotal moment that heightened his awareness of mortality and the importance of innovation in these fields.
Despite the setbacks faced with MoviePass, Watt’s determination to innovate burns strong. His journey reflects a spirit of resilience in the face of adversity, suggesting a promising future filled with potential contributions to healthcare and technology.
In summary, Hamet Watt’s shift from MoviePass to founding Share Ventures highlights his commitment to transforming personal loss into a drive for innovation. With substantial backing and a pioneering approach, his new venture aims to make a significant impact on startups focused on the future of work and health, showcasing an inspiring journey of resilience and hope.