The co-founder of MoviePass, Hamet Watt, is embarking on a new journey by launching a venture studio aimed at developing and funding startups. After the notable collapse of MoviePass, which he co-founded in 2011, Watt has turned his focus to Share Ventures.
Share Ventures has already garnered nearly $20 million in funding, with investments from notable companies including Alphabet and Amazon. Watt’s new venture is targeting innovations in the future of work and longevity sectors.
Watt believes that the current landscape of venture capital, influenced by the rise of artificial intelligence and elevated interest rates, is conducive to a “differentiated model.” He stated that Share Ventures is developing its own software and complex language models to streamline internal processes. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he explained. This approach allows them to build companies from the ground up while utilizing advanced tools effectively.
He pointed out that while many venture firms are investing in new technologies, they often do not incorporate and use these innovations in their operations. Watt emphasized that utilizing novel data and automation in their practices sets them apart from competitors.
Watt’s personal experiences, particularly the loss of his mother at a young age, have deeply influenced his interest in health and longevity. He reflected on how this loss prompted him to confront his own mortality and think more critically about life and health.
His previous venture, MoviePass, has been a topic of discussion in the recent documentary “MoviePass, MovieCrash.” Despite the setback, Watt remains motivated to innovate and explore new opportunities, embracing the possibility of both failure and success.