Hamet Watt, co-founder of MoviePass, is moving on from the company’s notable collapse and is in the process of raising funds for a new venture studio aimed at developing and financing startups.
In an interview, Watt shared his progress with Share Ventures, which has already secured nearly $20 million in funding from investors including Alphabet and Amazon. The new firm plans to focus on startups within the realms of future work and longevity.
Watt expressed that the current landscape, characterized by the AI boom and rising interest rates, has created an opportunity for a “differentiated model” in venture capital. He explained that Share Ventures is developing its own software and complex language models to streamline internal operations, allowing for earlier detection of promising opportunities with less investment.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. 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 observed that many venture firms may be investing in new technologies but are not fully utilizing them in their processes. He believes that incorporating innovative data and automation sets Share Ventures apart.
His passion for health and longevity was sparked by a personal tragedy; he lost his mother at 25 when she was only 49. This experience led him to confront his own mortality and raise awareness around health issues.
Reflecting on his previous venture with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate despite past failures. 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?”