Hamet Watt, a co-founder of MoviePass, is moving past the company’s significant downfall to launch a new venture studio aimed at supporting and funding startups. Watt established Share Ventures, which has already attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon.
The focus of Share Ventures will be on startups related to the future of work and longevity. Watt believes that the current landscape, shaped by the AI boom and rising interest rates, is conducive to a uniquely differentiated venture capital model. His company plans to develop its own software and utilize sophisticated language models to streamline operations.
Watt explained that with reduced funding requirements, it is possible to identify promising opportunities more quickly and with less capital. This approach has allowed Share Ventures to prioritize the creation of new companies using advanced tools.
Watt noted that while many venture firms are keen on investing in emerging technologies, they often do not fully embrace or utilize these innovations themselves. He believes that incorporating novel data and automation into their processes distinguishes Share Ventures from others.
His personal experiences also play a significant role in his interest in health and longevity; losing his mother at a young age heightened his awareness of mortality. This background has driven his determination to innovate and explore new possibilities, despite the challenges faced during his time with MoviePass.