Hamet Watt, a co-founder of MoviePass, is turning the page after the company’s tumultuous downfall and is embarking on an exciting new venture. He is now focused on Share Ventures, a startup studio aimed at developing and funding innovative businesses.
Watt has reported that Share Ventures has already secured nearly $20 million in funding, with notable backers including tech giants like Alphabet and Amazon. The studio plans to concentrate on startups within the realms of future work and longevity technologies. According to Watt, the current economic landscape—characterized by the boom in AI and elevated interest rates—presents a unique opportunity for a distinctive approach to venture capital.
Watt believes that this environment allows for less capital to yield significant insights into emerging opportunities. He emphasizes the advantage of building companies from the ground up, utilizing advanced tools and automation to enhance efficiency. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he explained.
He also critiques many venture firms for their failure to fully embrace innovative technologies, asserting that Share Ventures aims to leverage novel data and automation in a way that sets it apart from competitors.
Watt’s motivation for his new venture is deeply personal; he became passionate about health and longevity following the early loss of his mother at a young age. This experience has profoundly shaped his perspective and ambitions. Reflecting on his journey, Watt expressed that despite the setbacks experienced with MoviePass, he remains undeterred and excited to explore new possibilities. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he posed.
This new chapter not only signifies a professional rebirth for Watt but also embodies a hopeful outlook for the future of entrepreneurship, especially within emerging sectors that prioritize longevity and technological advancement. The lessons learned from his past experiences seem to fuel his resolve, and his story could inspire others to view failures as stepping stones to innovation and success.