Hamet Watt, co-founder of MoviePass, is moving on from the fallout of the company’s collapse and has launched Share Ventures, a new venture studio focused on developing and funding startups.
Watt said he has been actively working on Share Ventures, which has raised nearly $20 million from notable backers including Alphabet and Amazon. The venture aims to target startups that focus on the future of work and longevity.
He believes that the current landscape, shaped by advancements in AI and high-interest rates, presents an opportunity for a unique model in venture capital. To this end, Share Ventures is developing its own software and utilizing complex language models to streamline its internal processes.
Watt commented that smaller funds can identify potential opportunities more quickly and with less capital, which suits their approach of building companies from the ground up using cutting-edge tools.
He noted that many venture firms are investing in new technologies but are not fully utilizing them in their operations. Watt emphasized that employing novel data and automation in their processes sets Share Ventures apart.
His interest in health and longevity was deeply personal, stemming from the loss of his mother at the age of 25. This experience prompted him to reflect on mortality and prioritize health-focused initiatives.
Watt also shared insights from his time at MoviePass, detailed in the documentary “MoviePass, MovieCrash,” which has only fueled his desire to innovate in the startup space. He expressed a commitment to learning from past experiences and being open to both the challenges and successes that lie ahead.