Hamet Watt, co-founder of the once-popular service MoviePass, is shifting focus from the company’s dramatic downfall to launching a new venture studio aimed at supporting and financing startups. Watt has been actively working on Share Ventures, which has already raised nearly $20 million in funding from investors, including major players like Alphabet and Amazon.
Share Ventures intends to concentrate on startups within the realms of future work and longevity. According to Watt, the current landscape of venture capital, influenced by the rise of artificial intelligence and elevated interest rates, presents a unique opportunity for a different kind of investment model. He believes that by leveraging advanced software and complex language models, Share Ventures can automate its internal processes and establish companies from the ground up efficiently.
Watt emphasized the relative ease with which startups can now gain traction. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he noted, highlighting that many traditional venture firms may not fully utilize the novel technologies available today.
His personal connection to health and longevity issues, stemming from the early loss of his mother, further fuels his passion for this new direction. Watt expressed that this experience forced him to confront his mortality and contributed to his desire to innovate within the health sector.
Reflecting on his previous venture, he remains committed to learning from the past. Discussing his experience with MoviePass in the recent documentary “MoviePass, MovieCrash,” he shared his determination to pursue new projects, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”