Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable downfall and is in the process of raising funds for a new venture studio aimed at developing and financing startups.
Watt has been actively working on Share Ventures, which has already attracted nearly $20 million in funding from investors, including major companies like Alphabet and Amazon. The focus of this new venture will be on startups in the areas of future work and longevity.
He believes that the current climate, characterized by the AI surge and high interest rates, presents an opportunity for a unique venture capital model. Share Ventures aims to create its own software and complex language models to automate internal operations, allowing them to identify opportunities more quickly and with less capital.
Watt noted that while many venture firms are investing in new technologies, they often do not fully utilize or embody these innovations in their practices. “Utilizing novel data and automation in our process is something we think is uniquely special to us,” he said.
His interest in health and longevity was sparked by a personal tragedy—losing his mother at the young age of 25, who passed away at 49. This experience prompted Watt to reflect on his own mortality.
Watt has expressed that his experience with the failure of MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate further. He remains optimistic about the future, eager to explore new ventures with the understanding that failure is a possibility, but so is success.