MoviePass Co-Founder Hamet Watt Launches Share Ventures (EXCLUSIVE)

15/06/2024

A lot of people have reached out to Hamet Watt after watching HBO's "MoviePass, MovieCrash." Some have congratulated him on having his journey told through the film, while others have offered condolences after learning how things really went down at the company.

The MoviePass co-founder isn't dwelling on the negative, though. "I don't feel like a victim," Watt tells Variety. "I feel like we learned a lot. We went through a lot, but it's just part of the journey of business. Overall, I'd say it feels net positive."

Now, Watt is just focused on what's next - and using those hard-earned MoviePass lessons as the foundation for his new project, Share Ventures.

The venture studio's mission is to build companies that challenge conventional thinking in the longevity and human performance space. The firm leverages frontier technologies, particularly artificial intelligence and a proprietary innovation framework, to identify new opportunities.

For the uninitiated, the longevity market seeks to address the root causes of aging and help people live longer, healthier lives. The space is poised for significant growth, as the World Economic Forum predicts the global longevity economy will reach $27 trillion by 2026.

Of course, the market of reshaping the way a society functions is a bit nebulous and far-reaching by nature: Watt cites oral healthcare, mental healthcare and home ownership as spaces requiring "reimagination" in the near future.

"At the root of it, we are focused on starting companies in this space. We've already started several," Watt says, adding that details about those new companies will be announced in the coming months.

"In the first vehicle, which we call a foundry, we raised money from venture firms, family offices and some athletes as well. We experiment and start a lot of companies that are all focused on reimagining whatever their industry is. We also raised a fund, anchored by Google and Amazon," Watt continues. "We incubate and experiment with companies out of lab, and when we get some signal, we think we're excited about something, we have a fund that allows us to invest in those companies and essentially spin them out."

Share Ventures has already been operational in "stealth mode," but Watt is excited to finally bring the endeavor into the light. "This concept of reimagination is one that I'm really passionate about. We got a taste of it with MoviePass. But I've still got hunger around that, and I'm not scared of it. If I can get through that, I can get through anything."

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