Hamet Watt, co-founder of MoviePass, is moving forward after the company’s notable downfall by establishing a new venture studio focused on nurturing startups. He has recently launched Share Ventures, which aims to develop and fund innovative companies with a concentration on future work and longevity.
Watt disclosed to Business Insider that Share Ventures has already attracted nearly $20 million in funding, with support from major backers like Alphabet and Amazon. He emphasized that the current landscape—shaped by advancements in artificial intelligence and high interest rates—necessitates a unique approach to venture capital, prompting his firm to create proprietary software and complex language models to streamline operations.
He remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This method allows Share Ventures to build companies from the ground up while leveraging cutting-edge tools.
Watt noted that while many venture firms are investing in new technologies, they often do not effectively incorporate these innovations into their own processes. He believes that utilizing advanced data and automation sets Share Ventures apart in the competitive space.
His interest in the health and longevity sector stems from a personal loss; he lost his mother at a young age. This experience has profoundly influenced his outlook on life and mortality, shaping his commitment to exploring innovative solutions in healthcare.
Watt’s previous experiences with MoviePass, which he reflected on in the documentary “MoviePass, MovieCrash,” have only intensified his resolve to innovate. He expressed a determination to take risks in pursuit of success, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”