The co-founder of MoviePass, Hamet Watt, is transitioning from the company’s notable demise to spearhead a new venture studio aimed at developing and funding startups. Watt, who helped establish MoviePass in 2011, believes that the current landscape for venture capital is well-suited for innovative models, especially given the rise of artificial intelligence and prevailing high interest rates.
Watt’s new initiative, Share Ventures, has successfully raised nearly $20 million, with support from investors such as Alphabet and Amazon. The focus of Share Ventures is on startups in the realms of future work and longevity. Watt emphasized that the firm is also creating its own software and integrating sophisticated language models to streamline its operations.
He pointed out that with today’s conditions, startups can thrive on less capital and gain insights into opportunities earlier in the investment process. Watt highlighted the importance of utilizing new technologies to enhance their investment approach, setting Share Ventures apart from many traditional venture firms.
His personal experience with loss has shaped his commitment to health and longevity initiatives. Reflecting on the passing of his mother at a young age, Watt acknowledged that such experiences prompted deeper introspection about life’s fragility.
Despite the failure of MoviePass, which was recently explored in the documentary “MoviePass, MovieCrash,” Watt’s setbacks have only fueled his desire to pursue innovation. He remains resolute in exploring new ventures, driven by the lessons learned from both successes and failures.