Hamet Watt, co-founder of the once-popular MoviePass, is moving on from the company’s downfall to launch a new venture studio focused on developing and funding startups. The new initiative, Share Ventures, has already secured nearly $20 million in investment, attracting support from notable backers like Alphabet and Amazon.
Watt revealed to Business Insider that Share Ventures aims to target innovations in the future of work and longevity sectors. He believes the current environment, characterized by the AI boom and rising interest rates, presents an opportunity for a unique venture capital model. Share Ventures plans to incorporate its own software and advanced language models to streamline its internal operations and accelerate decision-making with less capital.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt explained. He emphasized that while many venture firms are investing in new technologies, they are not fully leveraging these innovations in their own processes.
Watt’s interest in health and longevity was sparked by personal loss; he lost his mother when he was just 25 years old. This experience, he shared, has profoundly influenced his perspective on life and mortality.
Reflecting on his time with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a determination to innovate despite past failures. He questioned what lessons he has learned and what risks he is willing to take in his new endeavors, stating: “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”