Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic downfall and is now seeking funding for a new venture studio aimed at nurturing and financing startups.
Watt is now leading Share Ventures, which has successfully raised nearly $20 million with investment from prominent backers including Alphabet and Amazon. The venture is concentrating on startups within the fields of future work and longevity.
According to Watt, the current landscape, marked by an Artificial Intelligence boom and elevated interest rates, presents a unique opportunity for a “differentiated model.” He emphasized that Share Ventures is developing its own software and sophisticated language models to automate internal processes. He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt noted that many venture firms are investing in innovative technologies but are not fully implementing them in their operations. He believes that utilizing novel data and automation is a distinctive advantage for Share Ventures.
His personal connection to health and longevity stems from the early loss of his mother when he was just 25 years old. This experience prompted him to contemplate his own mortality and the importance of longevity.
Reflecting on his previous experience with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed that the failure has only fueled his desire to pursue new innovations. He asked himself, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”