Hamet Watt, co-founder of MoviePass, is moving past the company’s downfall to launch a new venture studio aimed at cultivating and funding startups. He recently spoke with Business Insider about his latest initiative, Share Ventures, which has secured nearly $20 million in funding from notable investors including Alphabet and Amazon.
Watt’s new venture is concentrating on startups within the realms of future work and longevity. He believes that the current landscape, characterized by an AI boom and elevated interest rates, offers a prime opportunity for a differentiated venture capital model. To this end, Share Ventures plans to integrate its own software and advanced language models to streamline internal operations and enhance efficiency.
“You don’t need as large of funds, and you can identify opportunities much earlier with far less capital,” Watt explained. “For us, that’s advantageous as we build companies from the ground up using cutting-edge tools.”
Watt also asserted that many venture firms are investing in new technologies but fail to fully utilize them. He emphasized that employing innovative data and automation in their processes is a unique aspect of Share Ventures.
His interest in health and longevity emerged after the loss of his mother at the young age of 25, an experience that profoundly shaped his perspective on mortality. “When you lose your mom at a young age, it forces you to think about your own mortality in a way that I don’t think I was aware of at the time,” Watt reflected.
Despite the challenges faced with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate. He poses reflective questions on what he has learned and what new risks he is willing to take in order to succeed.