Hamet Watt, one of the co-founders of MoviePass, is shifting his focus from the company’s downfall to a new entrepreneurial endeavor. He is establishing a new venture studio called Share Ventures, aimed at developing and funding startups.
According to Business Insider, Watt has successfully raised nearly $20 million for Share Ventures, with investments from major backers like Alphabet and Amazon. The studio is particularly interested in startups related to the future of work and longevity.
Watt believes that the current venture capital landscape, influenced by the rise of AI and elevated interest rates, is ripe for innovative models. Share Ventures plans to differentiate itself by creating proprietary software and employing complex language models to enhance its operations.
He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach allows Share Ventures to build startups from the ground up while utilizing state-of-the-art tools.
Watt observed that although many venture firms are investing in emerging technologies, they often fail to implement these innovations within their own operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he remarked.
His personal experiences have shaped his interest in health and longevity, stemming from the loss of 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.
Watt’s past experiences with MoviePass, which recently featured in the documentary “MoviePass, MovieCrash,” have only fueled his determination to innovate. He is eager to embrace the challenges of entrepreneurship again, contemplating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”