The co-founder of MoviePass, Hamet Watt, is moving on from the company’s infamous downfall and is now focusing on a new venture studio aimed at developing and funding startups. Watt recently shared his plans with Business Insider regarding Share Ventures, which has already raised nearly $20 million in funding from investors including Alphabet and Amazon.
This new initiative will concentrate on startups involved in the future of work and longevity sectors. Watt believes that the current landscape of venture capital, influenced by the AI surge and high interest rates, is conducive to innovative business models. Consequently, Share Ventures is developing its own software and using complex language models to streamline internal operations.
Watt stated that smaller funds can yield significant insights into investment opportunities much earlier, enabling the creation of companies from the ground up with cutting-edge tools. He emphasized that while many venture firms are investing in new technologies, they are not fully utilizing them.
His interest in health and longevity has personal roots; he lost his mother at the age of 25. This experience prompted him to confront his own mortality, shaping his current pursuits. Watt’s previous experience with MoviePass, which he reflected upon in the documentary “MoviePass, MovieCrash,” has only fueled his determination to innovate further, despite the risks of failure.