Hamet Watt, co-founder of MoviePass, is transitioning from the company’s dramatic decline to focus on a new venture studio aimed at developing and funding startups. He has recently launched Share Ventures, which has attracted nearly $20 million in funding, backed by major investors including Alphabet and Amazon.
Watt explained to Business Insider that Share Ventures will concentrate on startups that work on the future of employment and longevity. He believes that the current landscape, characterized by the artificial intelligence surge and high interest rates, presents a ripe opportunity for a unique approach in venture capital. Share Ventures plans to develop its own software and utilize advanced language models to streamline its internal functions.
He emphasized that smaller funds can yield valuable insights into opportunities more rapidly and with less capital. “This is advantageous for us as we are building companies from the ground up and leveraging the latest tools proactively,” Watt noted.
Watt also pointed out that while many venture firms are investing in new technologies, they often do not incorporate these innovations into their operations. He believes that implementing novel data and automation distinguishes Share Ventures from other firms.
Watt’s interest in health and longevity was sparked by a personal tragedy; he lost his mother at 25 when she was only 49. This experience prompted him to seriously contemplate his own mortality. Reflecting on his journey, he stated, “Losing my mom at a young age compelled me to think about life in a way I hadn’t before.”
Despite the setbacks he faced with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation and is eager to take on new challenges. He expressed his desire to learn from past experiences and embrace the possibility of both failure and success in his future endeavors.