Hamet Watt, co-founder of MoviePass, is embarking on a new venture after the company’s dramatic downfall. He is currently raising funds for Share Ventures, a studio aimed at developing and financing startups.
In an interview with Business Insider, Watt revealed that Share Ventures has successfully secured nearly $20 million in funding, with notable backers such as Alphabet and Amazon. The focus of the new venture will be on startups within the fields of future work and longevity.
Watt believes that the current landscape, influenced by the AI boom and rising interest rates, creates a ripe environment for a unique venture capital model. Share Ventures plans to develop its own software and complex language models to streamline internal operations. Watt explained that this approach allows for earlier identification of opportunities with less initial capital, which is beneficial for creating companies from the ground up.
He noted that while many venture firms are investing in emerging technologies, few are actually integrating and utilizing them in their processes. Watt emphasized that the use of innovative data and automation in their approach sets Share Ventures apart.
His interest in health and longevity was sparked by personal tragedy; he lost his mother at the age of 25. This experience has profoundly influenced his outlook on mortality and has driven him to pursue new innovations in this field.
Watt’s experience with MoviePass, which he recently reflected upon in the documentary “MoviePass, MovieCrash,” has only fueled his determination to continue innovating. He expressed a desire to take risks and learn from both successes and failures in his future endeavors.