Hamet Watt, a co-founder of MoviePass, is moving past the company’s significant downfall and is now focused on launching a new venture studio aimed at developing and funding startups. Watt shared with Business Insider that he has been actively involved with Share Ventures, which has recently attracted nearly $20 million in funding from investors including Alphabet and Amazon.
The new venture is centered on startups in the realms of future work and longevity. Watt believes that the current landscape, shaped by the rise of AI and high-interest rates, presents an opportunity for a distinct venture capital model. Share Ventures intends to create its own software and integrate complex language models to streamline its internal operations.
Watt expressed that smaller funds can help identify potential opportunities earlier and with less capital, which is advantageous for developing new companies. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he remarked, emphasizing their focus on utilizing advanced tools in building these companies.
Despite the challenges faced during his time with MoviePass, which he openly addressed in the documentary “MoviePass, MovieCrash,” Watt remains undeterred and eager to innovate. He also cited a personal motivation for his interest in health and longevity, stemming from the loss of his mother at a young age, which profoundly impacted his perspective on life and mortality. Watt conveyed a determination to learn from his past experiences and pursue new ventures, regardless of potential setbacks.