Hamet Watt, a co-founder of MoviePass, is moving past the company’s dramatic downfall and is now focused on a new venture studio aimed at developing and funding startups. Watt expressed to Business Insider that his new company, Share Ventures, has already secured nearly $20 million in funding from investors, including tech giants Alphabet and Amazon. The venture specifically targets startups in the fields of future work and longevity.
Watt believes that the current landscape, characterized by the rise of artificial intelligence and high interest rates, presents an opportunity for a distinct model in venture capital. Share Ventures plans to combine its own software with advanced language models to streamline internal operations. He noted that this approach allows for smaller investment amounts and quicker identification of opportunities.
He observed that while many venture firms are investing in new technologies, they often do not actively utilize them. Watt stated that incorporating innovative data and automation into their processes is what makes Share Ventures unique.
His personal connection to health and longevity arose from the loss of his mother when he was just 25 years old, an experience that profoundly influenced his perspective on life and mortality. Reflecting on his past with MoviePass, which he recently recounted in the documentary “MoviePass, MovieCrash,” Watt emphasized the importance of learning from failures and the courage to innovate despite potential setbacks.