Hamet Watt, co-founder of MoviePass, is moving past the company’s notable decline and is now focused on establishing a new venture studio dedicated to developing and funding startups. Watt revealed to Business Insider that he has been diligently working on Share Ventures, a new firm that has already raised nearly $20 million from investors, including tech giants Alphabet and Amazon.
Share Ventures aims to concentrate on startups within the future of work and longevity sectors. Watt anticipates that the current boom in artificial intelligence and rising interest rates create an opportunity for a differentiated investment model. His approach includes developing proprietary software and complex language models to enhance internal operations.
Watt explained that the need for large funds is diminished, allowing for quicker signals on investment opportunities with reduced capital. This dynamic is beneficial for Share Ventures, as they are focused on building companies from the ground up using cutting-edge tools.
He pointed out that while many venture firms are investing in new technologies, they often lack the operational integration of these innovations.
Watt’s personal connection to health and longevity emerged from the loss of his mother at the age of 25, which prompted him to reflect on mortality and the importance of these areas. He stated that his experiences with MoviePass, which he unraveled in the documentary “MoviePass, MovieCrash,” have provided valuable lessons that encourage him to continue innovating, regardless of potential failures.