Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable downfall by launching a new venture studio aimed at supporting the development and funding of startups.
Watt recently founded Share Ventures, which has already attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon. The new venture is targeting startups focused on the future of work and longevity.
In a conversation with Business Insider, Watt explained that the current landscape, influenced by the rise of artificial intelligence and high interest rates, presents an opportunity for a “differentiated model” in venture capital. As part of this approach, Share Ventures is developing its own software in conjunction with advanced language models to streamline its internal operations.
He emphasized that smaller funds can identify opportunities earlier and with less capital. “For us, that’s a great thing because we’re building companies from scratch and using advanced tools proactively,” he stated.
Watt noted that while many venture firms are investing in new technologies, they often do not effectively implement and utilize these innovations. He believes that employing novel data and automation in their processes sets Share Ventures apart.
His personal experience with loss has fueled his interest in health and longevity. Losing his mother at the young age of 25, who died at just 49, has profoundly influenced his perspective on life. “When you lose your mom at a young age, it forces you to think about your own mortality in a way that I wasn’t conscious of at the time,” he reflected.
Despite the challenges faced with MoviePass, which he has discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to continue seeking innovation. “What have I learned, and what do I have the guts to try now — and maybe fail, but maybe succeed?” he concluded.