The co-founder of MoviePass, Hamet Watt, is moving forward from the company’s notable downfall and is now focused on a new venture studio aimed at developing and funding startups. In an interview, Watt announced the launch of Share Ventures, which has already attracted nearly $20 million in funding from prominent investors, including Alphabet and Amazon.
Watt emphasized that Share Ventures will concentrate on startups involved in the future of work and longevity sectors. He noted that the current landscape, marked by an AI boom and high interest rates, presents an opportunity for a unique investment model. This has led Share Ventures to create its own software and complex language models to streamline their internal operations.
He explained, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This strategy allows Share Ventures to build companies from the ground up while leveraging advanced technology.
Watt highlighted that while many venture firms are investing in new technologies, they often do not incorporate those technologies into their own processes. His approach relies on using innovative data and automation, which he believes sets Share Ventures apart.
His interest in health and longevity was sparked by a personal tragedy—losing his mother at the young age of 25. This experience compelled him to reflect on mortality and the importance of innovation in health-related sectors.
Watt’s previous experience with the failure of MoviePass, which he explored in a recent documentary, has only fueled his determination to continue innovating. 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?”