Hamet Watt, the co-founder of MoviePass, is moving past the company’s tumultuous collapse to launch a new venture studio aimed at developing and funding startups.
Watt has been actively working at Share Ventures, which has attracted nearly $20 million in funding, with notable investors including Alphabet and Amazon. The focus of the new company lies in the future of work and longevity sectors.
Watt believes that the current landscape, influenced by the AI boom and rising interest rates, presents an opportunity for a “differentiated model” in venture capital. To this end, Share Ventures is developing its own software alongside complex language models to streamline internal processes.
He remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt noted that while many venture firms are investing in emerging technologies, they often do not utilize these innovations themselves. He emphasized the unique advantage of incorporating novel data and automation into their approach.
His interest in health and longevity was sparked by the early loss of his mother at the age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he recently examined in the documentary “MoviePass, MovieCrash,” Watt sees failure as a stepping stone to innovation. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”