Hamet Watt, co-founder of MoviePass, is moving on from the company’s tumultuous collapse and is now focused on a new venture studio aimed at developing and funding startups. Watt has established Share Ventures, which has already garnered nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Watt shared with Business Insider that Share Ventures is concentrating on startups within the future of work and longevity sectors. He believes that the current climate, influenced by the AI surge and elevated interest rates, creates an opportunity for a differentiated venture capital model. As a result, Share Ventures plans to develop its own software and complex language models to enhance its operations.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt noted. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt emphasized that while many venture firms are investing in new technologies, they often do not fully embrace and utilize them. He believes that employing innovative data and automation in their processes sets Share Ventures apart.
His interest in health and longevity was sparked by the loss of his mother at the young age of 25, which prompted him to reflect on mortality. “When you lose your mom at a young age, it forces you to think about your own mortality in a way that I don’t know that I was conscious of at the time,” he said.
Despite the challenges faced by MoviePass, which he recently detailed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he concluded.