The co-founder of MoviePass, Hamet Watt, is embarking on a new journey after the company’s dramatic decline. Watt is now focusing his efforts on Share Ventures, a startup studio aimed at developing and funding innovative enterprises. Share Ventures has successfully raised nearly $20 million with backing from prominent investors, including Alphabet and Amazon, and is honing in on startups that cater to the future of work and health longevity.
Watt believes that the current landscape, influenced by the AI boom and high interest rates, presents a golden opportunity for differentiated venture capital models. He articulated that the traditional need for large amounts of funding is being transformed. With advancements in technology and automation, it’s now possible to gauge the viability of business opportunities earlier and with less capital. This is particularly beneficial for Watt’s approach, as Share Ventures aims to build companies from the ground up by leveraging cutting-edge tools and technologies.
He highlighted that while many venture firms are investing in new technologies, few are actually incorporating and utilizing them effectively. This hands-on approach, which combines novel data and automation in their operational processes, distinguishes Share Ventures from its competitors.
Watt’s personal experiences have shaped his investment focus, especially his interest in health and longevity, sparked by the early loss of his mother. This personal narrative fuels his passion for innovation in these critical sectors.
Reflecting on the lessons from the downfall of MoviePass, Watt remains undeterred and energized to continue innovating. His journey underscores a resilient mindset, showing that even setbacks can lead to opportunities for growth and new ventures.
Overall, Watt’s shift from a failed business model to pioneering efforts in the health and technology sectors serves as a reminder of the power of perseverance and the potential for success, even in the face of adversity. His determination to learn and adapt is a hopeful narrative for aspiring entrepreneurs.