Hamet Watt, a co-founder of MoviePass, is embarking on a new journey following the company’s tumultuous decline. He is now focused on a new venture studio called Share Ventures, which aims to support and fund startups.
Share Ventures has successfully attracted nearly $20 million in funding, with notable backers including tech giants Alphabet and Amazon. Watt’s new endeavor is concentrated on innovative sectors related to the future of work and longevity, signaling a shift towards impactful and relevant business ventures.
Watt believes that the current environment in venture capital, influenced by an AI boom and high interest rates, opens up opportunities for a more unique and efficient approach to investment. As part of Share Ventures, he plans to develop proprietary software and sophisticated language models to streamline operations and foster the growth of new companies. He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This strategy allows them to build startups from the ground up using cutting-edge technology.
Watt pointed out that while many venture firms are investing in new technologies, few are truly integrating these innovations into their processes. He emphasized that leveraging novel data and automation is what sets Share Ventures apart in the competitive landscape.
His personal experiences, particularly the loss of his mother at a young age, have fueled his passion for health and longevity initiatives, driving his commitment to create impactful solutions in this field. Watt remarked, “When you lose your mom at a young age, it forces you to think about your own mortality.”
Despite the challenges faced by MoviePass, Watt maintains a positive outlook, viewing setbacks as stepping stones towards innovation. He shared his resolve to learn from past experiences and to take calculated risks in pursuit of success with his new venture.
In summary, Hamet Watt’s transition from MoviePass to Share Ventures reflects a commitment to innovation and resilience. His new focus on using advanced technologies for creating impactful startups is a hopeful sign for the future of venture capital, and his personal journey indicates a deep-seated motivation to create meaningful advancements in health and longevity. Watt’s move can inspire others to view failures as opportunities for growth and to pursue new ventures with renewed passion.