Hamet Watt, co-founder of the iconic subscription service MoviePass, is embarking on a new journey after the company’s dramatic decline. He is now focused on Share Ventures, a new venture studio aimed at developing and funding startups. Watt revealed to Business Insider that the new company has already secured nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Share Ventures is keen on exploring innovative business models, particularly in the areas of future work and health longevity. Watt believes that the current climate, marked by artificial intelligence advancements and elevated interest rates, creates an opportunity for a more specialized model in venture capital. He emphasizes that they are leveraging cutting-edge software and complex language models to optimize their operations.
Watt highlighted that many venture firms may invest in new technologies but do not fully utilize them internally. He feels that integrating novel data and automation sets his approach apart, allowing them to identify promising opportunities with less capital.
Watt’s journey took a personal turn after losing his mother at a young age, driving his passion for health and longevity. This experience has profoundly influenced his perspective on life and mortality, motivating him to innovate despite his past challenges with MoviePass, a topic he recently explored in the documentary “MoviePass, MovieCrash.”
In a hopeful twist, Watt views his previous setbacks as lessons that inspire him to continue pushing boundaries in the startup landscape. His resilience and vision could pave the way for novel advancements in the fields he is passionate about, making the future brighter for entrepreneurs and consumers alike.