Hamet Watt, the co-founder of MoviePass, is moving on from the company’s dramatic decline to establish a new venture studio aimed at developing and funding startups. Watt has been busy with Share Ventures, which has already secured nearly $20 million in funding from investors, including tech giants Alphabet and Amazon.
The new firm is concentrating on startups focused on the future of work and longevity. Watt believes that the current landscape, characterized by the rise of artificial intelligence and high interest rates, presents a unique opportunity for a “differentiated model” in venture capital. To capitalize on this, Share Ventures is developing its own software and complex language models to enhance its internal operations.
Watt highlighted that smaller funds are now more viable, enabling early identification of investment opportunities with less capital. He emphasized that Share Ventures is leveraging advanced tools to build new companies from the ground up.
Watt pointed out that although many venture firms are investing in innovative technologies, few incorporate those technologies into their processes. He believes that utilizing novel data and automation sets his firm apart.
His interest in health and longevity stemmed from a personal tragedy; he lost his mother at the age of 25 when she was just 49 years old. This experience prompted Watt to reflect on his own mortality.
Watt’s previous experience with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” has fueled his determination to continue innovating. He remarked on the lessons learned from past failures and the courage to move forward, regardless of the risk of failure.