Hamet Watt, the co-founder of MoviePass, is moving on from the company’s notable downfall to launch a new venture studio aimed at supporting and financing startups. He has been actively working on Share Ventures, which has raised nearly $20 million from investors including Alphabet and Amazon.
Watt explained that the new company will focus on startups related to the future of work and health longevity. He believes that the current landscape, characterized by the rise of artificial intelligence and high interest rates, presents an opportunity for a unique venture capital model. Share Ventures plans to develop its own software alongside advanced language models to streamline its internal processes.
He emphasized that with less capital required to identify promising opportunities, the firm can effectively build companies from the ground up using cutting-edge tools. Watt noted that while many venture firms are investing in new technologies, they often do not actively utilize them in their operations.
Watt’s interest in health and longevity stems from a personal loss; he lost his mother at the age of 25 when she was just 49. This experience has profoundly influenced his perspective on mortality and innovation.
While reflecting on the challenges faced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains determined to embrace new ventures, stating that he is prepared to risk failure for the chance of success.