Hamet Watt, co-founder of the now-defunct MoviePass, is shifting his focus to a new venture studio aimed at developing and funding startups following the company’s dramatic collapse. Watt is currently leading Share Ventures, which has successfully raised nearly $20 million from investors including Alphabet and Amazon.
Watt expressed that the venture is concentrating on startups that revolve around the future of work and longevity. He believes that the current landscape, influenced by advancements in AI and rising interest rates, presents an opportunity for a new investment model that differs from traditional approaches.
He noted that Share Ventures plans to create its own software and complex language models to streamline internal processes, allowing for earlier identification of investment opportunities with lower initial capital requirements.
Watt also pointed out that while many venture capital firms are putting money into new technologies, not all are effectively leveraging them in their own operations. He emphasized that utilizing innovative data and automation is a key differentiator for Share Ventures.
His personal motivation behind focusing on health and longevity stems from the loss of his mother at a young age, which prompted him to reflect on mortality. Despite the setback with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” he remains committed to pursuing innovation. Watt stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”