Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic downfall and is now focusing on a new venture studio aimed at developing and funding startups. Watt has established Share Ventures, which has already raised nearly $20 million from investors, including notable tech giants Alphabet and Amazon.
The new venture is concentrating on areas related to the future of work and longevity, a field that has garnered Watt’s interest due to personal experiences, including the loss of his mother at a young age. He explained that this significant event made him reflect on mortality and the importance of health.
In an interview with Business Insider, Watt emphasized that the current investment climate, influenced by the AI boom and rising interest rates, presents an opportunity for a distinct venture capital approach. Share Ventures is not just providing funding; it’s also developing its own software and advanced language models to enhance efficiency and signal opportunities earlier with less capital.
Watt highlighted that while many venture firms are pouring money into emerging technologies, they often fail to integrate these innovations into their own processes. He believes that utilizing fresh data and automation sets Share Ventures apart from its competitors.
Despite the challenges faced with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation and is eager to venture into new projects, acknowledging the possibility of both failure and success.