The co-founder of MoviePass, Hamet Watt, is moving on from the company’s notable collapse and is now focused on launching a new venture studio aimed at supporting and funding startups. Watt, who originally founded MoviePass in 2011, believes in the potential of Share Ventures, which has already raised nearly $20 million with investors that include Alphabet and Amazon.
Share Ventures aims to target startups in the realms of future work and longevity. Watt believes the current landscape, shaped by advancements in AI and rising interest rates, presents a unique opportunity for differentiated venture capital models. This perspective has led Share Ventures to develop its own software and intricate language models to streamline internal processes.
Watt expressed that it is no longer necessary to have vast amounts of capital to identify new opportunities effectively. “We’re building companies from scratch using the most advanced tools proactively,” he stated. He noted that many venture firms may invest in innovative technologies but fail to fully integrate and utilize them within their own operations.
His personal experiences, particularly the loss of his mother at a young age, have further fueled his interest in health and longevity. This early loss prompted him to reflect on life and mortality in ways he hadn’t considered before.
Reflecting on the challenges faced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt sees these experiences as learning opportunities that inspire him to continue pursuing innovation. He is motivated by the prospect of trying new ventures, regardless of the potential for failure.