Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s significant collapse. He is currently raising funds for Share Ventures, a venture studio aimed at developing and supporting startups.
Watt stated that Share Ventures has already attracted nearly $20 million in funding, with support from prominent backers including Alphabet and Amazon. The focus of the new venture will be on startups operating in the fields of future work and longevity.
He believes that the current landscape shaped by advancements in artificial intelligence and elevated interest rates presents an opportunity for a “differentiated model.” Share Ventures plans to create its own software, including complex language models, to streamline its internal processes.
According to Watt, the need for massive funding has diminished, allowing investors to identify opportunities more quickly and with less capital. “This is advantageous for us as we are building companies from scratch while leveraging the most advanced tools available,” he remarked.
Watt pointed out that many venture firms are investing in new technologies but are not effectively utilizing them. He emphasized that incorporating innovative data and automation into their processes sets Share Ventures apart.
His interest in health and longevity was sparked by the loss of his mother at the age of 25, who passed away at just 49. This experience prompted him to reflect on mortality in a way he had not previously considered.
Watt’s previous experience with MoviePass, which he shared in the documentary “MoviePass, MovieCrash,” has fueled his determination to innovate despite past failures. He expressed his commitment to learn from his experiences and the willingness to try again, regardless of the possibility of failure or success.