Hamet Watt, co-founder of the now-defunct MoviePass, is moving forward from the company’s downfall and is in the process of raising funds for a new venture studio aimed at supporting startups. His new venture, Share Ventures, has already secured nearly $20 million in funding from investors such as Alphabet and Amazon.
Watt shared with Business Insider that Share Ventures will concentrate on startups focused on the future of work and longevity. He believes that the current landscape of high interest rates and the AI boom has created an opportunity for a distinct venture capital model. To capitalize on this, Share Ventures is developing its own software and complex language models to enhance internal operations.
He emphasized that smaller funds can yield quicker insights into opportunities with less capital, which works in their favor as they aim to build companies from the ground up using cutting-edge technologies.
Watt commented on the importance of leveraging new technologies, stating that many venture firms invest in these advancements without genuinely integrating them into their processes.
His personal experiences also drive his interest in health and longevity, particularly after losing his mother at the age of 25. This loss has prompted Watt to reflect deeply on mortality and motivated him to continue innovating despite the setbacks faced with MoviePass, which he detailed in the documentary “MoviePass, MovieCrash.” He expressed a strong ambition to learn from past experiences and the willingness to take risks in pursuit of success.