Hamet Watt, the co-founder of MoviePass, is moving past the company’s tumultuous decline and is now focused on securing financing for a new venture studio aimed at developing and supporting startups.
Watt has been actively working at Share Ventures, a new company that has already raised nearly $20 million in funding, with notable backers including Alphabet and Amazon. The venture is centered on startups related to the future of work and longevity.
He believes that the current environment, characterized by an AI boom and elevated interest rates, presents a unique opportunity for a differentiated business model. As a result, Share Ventures is developing its own software and complex language models to enhance internal automation.
Watt highlighted that smaller funding sizes can lead to earlier identification of opportunities, which benefits their approach of building companies from the ground up while utilizing advanced tools.
He emphasized that many venture firms are investing in new technologies, yet they often do not fully integrate or utilize them in their operations. This brings a unique competitive edge to Share Ventures, according to Watt.
His personal interest in health and longevity was sparked by the loss of his mother at the age of 25, when she was merely 49 years old. This experience prompted him to reflect on mortality and the importance of health.
Watt’s experience with the failure of MoviePass, which he recounted in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate further. He expressed a determination to apply the lessons learned from his past and embrace new challenges, regardless of the possibility of failure.