Hamet Watt, co-founder of MoviePass, is moving on from the company’s notable decline and is now focused on raising funds for a new venture studio aimed at supporting and developing startups.
Watt has been working on Share Ventures, which has already secured nearly $20 million in funding from investors, including major firms like Alphabet and Amazon. The new venture aims to invest in companies within the realms of future work and longevity.
He believes that the current landscape of venture capital, shaped by advancements in artificial intelligence and high interest rates, is conducive to a “differentiated model.” Share Ventures plans to leverage its own software and sophisticated language models to streamline its internal operations.
Watt emphasized that with smaller fund sizes, it is now possible to identify investment opportunities much earlier and with less capital. He stated, “That’s a great thing for us, as it allows us to build companies from the ground up using the most advanced tools available.”
He also noted that while many venture firms are pouring money into new technologies, few are applying and embodying these innovations in their processes. “We believe our approach, which incorporates novel data and automation, is uniquely special to us,” he remarked.
Watt’s interest in health and longevity stems from a personal tragedy; he lost his mother when he was just 25 years old, which deeply impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed that his past failures only fueled his desire to innovate further. “I ask myself what I’ve learned and what risks I’m willing to take now, knowing I could fail but also succeed,” he said.