Hamet Watt, co-founder of MoviePass, is shifting gears from the company’s notable downfall to focus on a new venture studio aimed at developing and funding startups. Watt has founded Share Ventures, which has already attracted nearly $20 million in investments from notable backers such as Alphabet and Amazon.
The new firm is particularly interested in startups that address the future of work and longevity sectors. Watt believes that the current landscape, marked by the AI boom and high interest rates, creates a ripe environment for a unique model in venture capital. He explained that Share Ventures is developing its own software and complex language models to streamline internal operations.
He emphasized that smaller funds can lead to quicker assessments of opportunities with less capital. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively,” Watt stated.
Watt highlighted the challenge faced by many venture capital firms, which may invest in new technologies but fail to fully utilize them in their operations. He believes that leveraging innovative data and automation distinguishes Share Ventures.
Watt’s personal experiences have also shaped his focus on health and longevity, particularly after losing his mother at a young age. “When you lose your mom at a young age, it forces you to think about your own mortality,” he reflected.
Despite the setbacks he faced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate. He expressed a commitment to learning from past experiences and is ready to embrace the potential for both failure and success in his new endeavors.