Hamet Watt, co-founder of MoviePass, is moving on from the company’s notable downfall and is now focused on raising funds for a new venture studio aimed at developing and financing startups.
In a recent interview with Business Insider, Watt shared insights about his new company, Share Ventures, which has raised nearly $20 million from investors including Alphabet and Amazon. This new venture will concentrate on startups in the fields of future work and longevity.
Watt believes that the current landscape, influenced by the AI surge and rising interest rates, has created a favorable environment for a unique venture capital approach. Share Ventures aims to develop its own software along with sophisticated language models to streamline its internal processes. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he stated, noting the advantages of building companies from scratch with advanced tools.
He emphasized the importance of leveraging new technologies, explaining that many venture firms invest in these innovations without fully utilizing them. Watt’s personal motivation for focusing on health and longevity stems from the loss of his mother at a young age, which profoundly shaped his perspective on mortality.
Reflecting on his previous experience with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt expressed his commitment to innovation, stating that despite past failures, he is eager to pursue new opportunities.