Hamet Watt, co-founder of MoviePass, is moving beyond the company’s infamous downfall to establish a new venture studio aimed at developing and funding startups. His new company, Share Ventures, has raised nearly $20 million with investments from major backers including Alphabet and Amazon.
Watt’s focus lies in startups that cater to the future of work and longevity sectors. He believes the current climate of heightened interest rates and the AI boom has created an opportunity for a unique venture capital model. Share Ventures plans to utilize advanced software and complex language models to streamline its operations and enhance its development processes.
Watt remarked that smaller funding amounts can lead to quicker insights on investment opportunities, making it easier to build companies from the ground up. He emphasized the importance of adopting new technologies within the venture capital space, noting that many firms are not fully leveraging these advancements.
Watt’s personal experiences have driven his interest in health and longevity, particularly after the loss of his mother at a young age. He reflects on how this loss has shaped his perception of mortality and has influenced his entrepreneurial journey.
Despite the setbacks faced with MoviePass, Watt remains motivated to pursue innovation. He contemplates what he has learned from his experiences and is determined to take new risks in his future endeavors.