Hamet Watt, co-founder of MoviePass, is shifting focus from the company’s notable decline to launching a new venture studio aimed at supporting and financing startups. He has recently established Share Ventures, which has raised nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Watt envisions this new venture focusing on innovation within the realms of work and longevity. He believes that the current climate of AI advancements and high interest rates presents an opportunity for a unique investment approach that diverges from traditional venture capital models.
According to Watt, Share Ventures will create its own software and utilize advanced language models to enhance internal operations. He stated that smaller funding amounts can still yield significant insights into investment opportunities earlier in the process.
Watt also emphasized the importance of integrating new technologies within venture practices, asserting that many firms fail to fully utilize the novel data and automation available to them. His personal interest in health and longevity was sparked by the loss of his mother at a young age, which influenced his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a determination to continue innovating despite past setbacks, motivated by the lessons learned during that venture.