Hamet Watt, co-founder of MoviePass, is moving forward from the company’s infamous collapse to focus on a new venture studio aimed at developing and funding startups. Watt has been actively working on Share Ventures, which has already raised nearly $20 million from backers including Alphabet and Amazon. The new venture will concentrate on startups involved in the future of work and longevity sectors.
Watt believes that the current AI boom coupled with high interest rates presents an opportunity for a unique venture capital model. Share Ventures plans to develop its own software and complex language models to enhance its internal processes. Watt noted that smaller funds can now provide early signals on investment opportunities, which is advantageous for building new companies using cutting-edge tools.
He remarked that while many venture firms are investing in new technologies, they often fail to adopt and utilize them in their own operations. Watt emphasized the importance of leveraging novel data and automation as a distinctive aspect of their approach.
His personal experiences have also shaped his interest in health and longevity, particularly after losing his mother at the young age of 25. This loss prompted him to reflect on mortality and the importance of innovation. Despite the setbacks experienced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains committed to pursuing new ventures, driven by the lessons learned from his past.