Hamet Watt, co-founder of MoviePass, is moving past the company’s notable decline and is now focused on raising funds for a new venture studio aimed at supporting the development and funding of startups.
Watt established Share Ventures, which has already attracted nearly $20 million in funding with prominent backers including Alphabet and Amazon. The new venture is concentrating on startups within the future of work and longevity sectors.
He believes that the current boom in artificial intelligence and rising interest rates have created an opportunity for a “differentiated model” in venture capital. Share Ventures plans to develop its own software and complex language models to streamline its internal operations.
According to Watt, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He sees this as beneficial for building companies from the ground up while leveraging the latest tools.
Watt pointed out that while many venture firms are investing in emerging technologies, they often do not incorporate and utilize them in their processes. He emphasized the uniqueness of using innovative data and automation in their operations.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at the age of 25, which led him to reflect on his own mortality.
Watt discussed his experiences with MoviePass, which he detailed in the documentary “MoviePass, MovieCrash,” and expressed that despite the failure, he remains motivated to innovate. 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?”