Hamet Watt, the co-founder of MoviePass, is embarking on a new chapter following the company’s notable downfall. He is now focused on raising funds for a new venture studio called Share Ventures, aimed at developing and financing innovative startups. In an interview, Watt revealed that Share Ventures has successfully attracted nearly $20 million in funding from prominent investors, including tech giants Alphabet and Amazon.
The studio is concentrating on startups that align with the evolving landscapes of work and longevity. Watt believes the current climate, characterized by an AI boom and rising interest rates, creates an opportunity for a unique venture capital model. He emphasized that Share Ventures is developing its own software and employing sophisticated language models to enhance operational efficiency within the company.
By leveraging advanced tools, Share Ventures aims to minimize the required funding and speed up the identification of promising opportunities. Watt expressed a belief that while many venture firms are investing in cutting-edge technologies, few truly integrate and utilize them in their own processes.
Watt’s personal experience with loss has significantly shaped his focus on health and longevity. Having lost his mother at a young age, he reflects on how this event prompted him to confront his own mortality, fueling his passion for advancing healthcare and longevity solutions.
Despite the setbacks encountered with MoviePass, Watt remains undeterred and is driven by a mindset of innovation and resilience. His reflections on both failure and the potential for future success underscore a hopeful outlook for his new venture.
This transition not only highlights Watt’s determination to learn from past experiences, but it also emphasizes the burgeoning potential in the startup ecosystem. Innovators like Watt are essential for driving meaningful change in society through technology and entrepreneurship.