Hamet Watt, a co-founder of MoviePass, is shifting his focus from the company’s downfall to launching a new venture studio aimed at developing and funding startups. Watt has established Share Ventures, which has already secured nearly $20 million in funding from prominent backers, including Alphabet and Amazon.
Watt envisions Share Ventures concentrating on startups in the evolving sectors of work and longevity. He believes that the current landscape, shaped by the AI surge and high interest rates, allows for a unique approach to venture capital. According to Watt, their strategy involves creating proprietary software and intricate language models to streamline operations, thus enabling early signals on investment opportunities with reduced capital.
He emphasized that many venture firms are investing in new technologies but are not fully integrating these advancements into their processes. Watt’s perspective incorporates the use of innovative data and automation, which he considers a distinctive edge for Share Ventures.
Driven by personal experiences, including the loss of his mother at a young age, Watt’s interest in health and longevity has deepened. He stated that such experiences prompt reflections on mortality that fuel his passion for innovation.
Despite the collapse of MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt remains motivated to pursue new ventures. He expressed determination to learn from past failures and embrace the possibility of either success or further challenges in his entrepreneurial journey.