Hamet Watt, the co-founder of MoviePass, is moving past the company’s dramatic downfall to focus on a new venture studio aimed at developing and funding startups. Watt has launched Share Ventures, which has already secured nearly $20 million in funding from prominent backers, including Alphabet and Amazon. The firm will concentrate on startups in the fields of future work and longevity.
Watt believes that the current landscape of high interest rates and the AI boom has created an opportunity for a “differentiated model” in venture capital. According to him, Share Ventures will develop its own software and leverage complex language models to streamline its internal operations. He pointed out that this approach allows for smaller initial investments and the ability to identify promising opportunities earlier.
Watt emphasized that while many venture firms are funding new technologies, they are not necessarily utilizing these innovations in their own processes. He believes that incorporating novel data and automation gives Share Ventures a unique edge.
His interest in health and longevity was sparked by his personal experience of losing his mother at a young age, which reshaped his perspective on life and mortality. Reflecting on his journey, Watt expressed a commitment to learn from past failures, like that of MoviePass, and to embrace the risk of innovation moving forward.