Hamet Watt, co-founder of MoviePass, is moving past the company’s notable collapse and is now focused on raising funds for a new venture studio aimed at supporting startup development.
Watt has been working on Share Ventures and has successfully secured nearly $20 million in funding, with notable backing from tech giants Alphabet and Amazon. He stated that the new venture will concentrate on startups related to the future of work and longevity.
According to Watt, the current environment, shaped by the AI boom and elevated interest rates, presents a ripe opportunity for a distinctive venture capital model. Share Ventures plans to develop its software and advanced language models to streamline internal processes.
“You don’t need large funds, and you can identify opportunities much earlier with less capital,” Watt explained. “This is beneficial for us as we are building companies from the ground up while leveraging the latest tools proactively.”
Watt pointed out that while many venture firms are investing in new technologies, they often do not fully embrace them in their operations. He believes that incorporating innovative data and automation sets Share Ventures apart.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at the age of 25 when she was only 49. This experience prompted him to contemplate his own mortality more deeply.
Reflecting on his past with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed that the lessons learned from that experience are driving him to innovate once again. He is ready to embrace the possibility of both failure and success in his future endeavors.