Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable downfall to establish a new venture studio aimed at developing and funding startups. In an interview, he revealed that his new initiative, Share Ventures, has raised nearly $20 million with investors that include tech giants Alphabet and Amazon.
Watt explained that Share Ventures is concentrating on startups within the realms of future work and longevity. He believes that the current landscape shaped by the AI surge and elevated interest rates creates an opportunity for a unique investment model. Consequently, Share Ventures is not only developing its own software but also employing advanced language models to streamline its internal operations.
He remarked that smaller funds are now more viable and can provide insights into investment opportunities much sooner, which aligns well with the studio’s goal of building companies from the ground up using cutting-edge tools.
Watt also noted that while many venture firms are investing in new technologies, they often fail to effectively integrate and utilize them in their operations. He emphasized the special approach of using innovative data and automation in their processes.
His interest in health and longevity stems from a personal loss, having lost his mother at the age of 25 when she was just 49. This experience has profoundly influenced his perspectives on mortality.
Watt’s experiences with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” have only fueled his determination to innovate. He expressed a desire to embrace the lessons learned from past failures as he embarks on this new venture, aiming not only to succeed but also to embrace the possibility of failure as part of the journey.