Hamet Watt, co-founder of MoviePass, is moving forward after the company’s notable downfall and is working on a new venture studio aimed at developing and funding startups.
In an interview with Business Insider, Watt shared that he has been focusing his efforts on Share Ventures, which has already raised nearly $20 million from investors, including Alphabet and Amazon. The new company is concentrating on startups within the fields of future work and longevity.
Watt noted that the current landscape, driven by advancements in AI and high interest rates, presents an opportunity for a “differentiated model” in venture capital. Share Ventures plans to create its own software alongside sophisticated language models to streamline its internal operations.
According to Watt, the reduced need for large funding and the ability to detect opportunities earlier with less capital is advantageous for their approach. He emphasized the uniqueness of incorporating new data and automation in their processes compared to other venture firms.
Watt’s interest in health and longevity was sparked by the loss of his mother at the age of 25, which made him more aware of mortality. He expressed that his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate further and explore new ventures, regardless of the potential for failure.