Hamet Watt, co-founder of the now-defunct MoviePass, is pivoting from the company’s dramatic decline to establish a new venture studio aimed at developing and funding startups. Watt has been actively working on Share Ventures, which has already attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon.
The focus of Share Ventures includes startups in the sectors of future work and longevity. Watt believes that the current climate, driven by the AI boom and elevated interest rates, presents a unique opportunity for venture capital that differs from traditional models. This new approach includes the development of proprietary software and advanced language models to enhance internal operations.
Watt emphasized that smaller funds are capable of yielding insights on investment opportunities more quickly, allowing for streamlined company creation. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he explained.
He also noted that many venture firms are investing in innovative technologies but are not fully utilizing them in their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he added.
Watt’s interest in health and longevity was sparked by a personal tragedy; he lost his mother at a young age, an experience that has influenced his outlook on life and mortality. Reflecting on his time with MoviePass, which is the subject of the documentary “MoviePass, MovieCrash,” Watt expressed his motivation to continue innovating despite past failures. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he concluded.