Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s dramatic collapse to launching a new venture studio aimed at developing and funding startups. Watt recently disclosed that he is actively working on Share Ventures, which has already raised nearly $20 million with support from prominent investors like Alphabet and Amazon.
The focus of Share Ventures will be on startups within the future of work and longevity sectors. Watt mentioned that the current landscape, influenced by the AI surge and rising interest rates, presents an opportunity for a distinct investment model. This approach includes the development of proprietary software and advanced language models to enhance internal operations and identify opportunities earlier and with less capital.
Watt emphasized the importance of integrating new technologies into their investment process, claiming that many venture firms are not fully leveraging these advancements. His personal motivation for pursuing health and longevity initiatives stems from a deeply personal experience; he lost his mother at the age of 25 when she was just 49. This loss compelled him to reflect on mortality and informs his commitment to innovation in these fields.
Despite the challenges faced with MoviePass, which he elaborated on in the documentary “MoviePass, MovieCrash,” Watt views his past experiences as lessons that inspire him to continue exploring new ventures, whether they result in success or failure.