Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s notable demise, now focusing on raising funds for a new venture studio aimed at nurturing startups. His new initiative, Share Ventures, is already making strides, having secured nearly $20 million from notable investors like Alphabet and Amazon.
Watt’s vision for Share Ventures centers around innovation within the fields of future work and longevity. He believes that the current landscape—characterized by an AI boom and elevated interest rates—offers a ripe opportunity for a unique investment model. Instead of relying on large funds, Watt emphasizes that startups can be developed with less capital and a quicker signal on potential opportunities. He expresses optimism about building companies from the ground up while leveraging advanced tools and automation.
In a departure from traditional venture capital practices, Watt has aligned Share Ventures with novel uses of data and automation, setting it apart from other firms in the industry. He acknowledges that many venture firms are hesitant to fully integrate these technologies into their operations.
Watt’s personal journey shapes much of his motivation. He developed a keen interest in health and longevity after experiencing the profound loss of his mother at a young age. This life experience has underlined the importance of mortality and the drive for innovation in his current work.
Reflecting on his previous experience with MoviePass, which he examined in the documentary “MoviePass, MovieCrash,” Watt expresses a renewed determination to innovate despite past setbacks. He views failure as an integral part of the journey, remaining hopeful that his new venture will succeed and ultimately contribute positively to the startup ecosystem.
In summary, Hamet Watt’s transition from MoviePass to Share Ventures not only highlights his resilience but also showcases a commitment to leveraging technology and personal experience to drive innovation in new sectors. As he seeks to make a meaningful impact, there’s optimism about what his new endeavors might achieve for startups and the wider community.