Hamet Watt, co-founder of MoviePass, is moving forward from the company’s dramatic downfall and is now focused on establishing a new venture studio aimed at developing and funding startups.
In an interview with Business Insider, Watt revealed that he has been actively working on Share Ventures, which has already raised nearly $20 million from investors including Alphabet and Amazon. The studio’s primary focus is on startups that concentrate on the future of work and longevity sectors.
Watt believes that the current landscape, influenced by the AI surge and elevated interest rates, is ripe for innovative investment strategies. He emphasized that Share Ventures is developing its own software and leveraging advanced language models to enhance its operational efficiency. He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” highlighting the advantages of building companies from the ground up using modern tools.
He noted that many venture capital firms are investing in new technologies but are not effectively utilizing them in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he added.
Watt’s personal connection to health and longevity was influenced by the loss of his mother at the young age of 49 when he was just 25. This experience deeply impacted his perspective on mortality and has driven his interest in these sectors.
Reflecting on his previous experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue innovating. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”