The co-founder of MoviePass, Hamet Watt, is shifting his focus from the company’s notable collapse to a new endeavor aimed at fostering startups. Watt is now involved in Share Ventures, a new venture studio that has successfully raised nearly $20 million in funding, with notable support from Alphabet and Amazon.
In an interview with Business Insider, Watt explained that Share Ventures aims to concentrate on startups in the fields of future work and longevity. He believes that the current landscape, characterized by an AI surge and high interest rates, presents an opportunity for a unique venture capital model. As such, Share Ventures is developing its own software and complex language models to streamline its internal processes.
Watt commented on the benefits of this approach, stating, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He indicated that this strategy allows them to build companies from the ground up while leveraging advanced tools proactively.
He also noted that while many venture firms are investing in new technologies, they may not be fully integrating these innovations into their operations. Watt emphasized the distinct advantage that Share Ventures has by employing novel data and automation in its approach.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at the age of 25. This experience has profoundly influenced his perspective on life and mortality.
Reflecting on his journey, Watt expressed that the challenges faced with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” have only fueled his desire to continue innovating. He articulated a commitment to learning from past experiences and embracing new risks, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”