Hamet Watt, co-founder of MoviePass, is moving past the company’s notable downfall to launch a new venture studio aimed at developing and funding startups.
Watt has recently established Share Ventures, which has already attracted nearly $20 million in backing from investors, including tech giants Alphabet and Amazon. The focus of his new venture lies in the realms of the future of work and longevity.
In a conversation with Business Insider, Watt highlighted how the current AI boom and high interest rates have opened opportunities for innovative venture capital approaches. Share Ventures is looking to incorporate its own software and advanced language models to streamline internal processes.
He remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” emphasizing the advantages of building companies from the ground up using cutting-edge tools.
Watt noted that many venture firms are investing in new technologies without fully integrating or utilizing them in their operations. He believes Share Ventures’ unique approach of employing novel data and automation sets it apart from the rest.
Watt’s personal motivation for focusing on health and longevity stems from the loss of his mother at the age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his experiences with MoviePass, which he discussed in the HBO documentary “MoviePass, MovieCrash,” Watt expressed determination to continue innovating despite past failures. He conveyed a willingness to take risks in pursuit of success, saying, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”