Hamet Watt, co-founder of MoviePass, is pivoting from the company’s notable downfall to launch a new venture studio aimed at supporting startups. His new firm, Share Ventures, has already raised nearly $20 million with investments from notable backers like Alphabet and Amazon.
Watt shared with Business Insider that Share Ventures is concentrating on startups focused on the future of work and longevity. He believes the current AI boom and elevated interest rates have created an opportunity for a distinct investment model, prompting Share Ventures to develop its own software alongside advanced language models to enhance internal operations.
According to Watt, smaller funds allow for quicker assessments of potential opportunities, thus favoring startups that are being built from the ground up with state-of-the-art tools. He noted that while many venture firms are putting money into new technologies, they often do not implement these innovations within their own processes, a gap that Share Ventures aims to fill.
Watt’s interest in health and longevity stems from a personal loss; he lost his mother at the young age of 25. This experience has profoundly shaped his outlook on life and mortality, motivating his current focus.
Despite his setbacks with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation. He is driven by the question of what he has learned from his experiences and whether he has the courage to pursue new ventures with the potential for both failure and success.