Hamet Watt, co-founder of MoviePass, is moving on from the company’s dramatic fall and is seeking funding for a new venture studio aimed at supporting startups.
Watt has been hard at work on Share Ventures, which has already attracted nearly $20 million in funding with backing from major players like Alphabet and Amazon. The focus of this new initiative is on startups in the work and longevity sectors.
He believes that the current landscape of venture capital, influenced by the AI boom and rising interest rates, is suited for a more innovative approach, which is why Share Ventures is combining software development with complex language models to streamline its operations.
Watt emphasized that smaller funds can yield quicker insights into opportunities, allowing for the establishment of new companies with advanced tools at their disposal.
He pointed out that while many venture firms are investing in new technologies, they often do not incorporate these tools into their processes. Watt expressed confidence that leveraging unique data and automation sets Share Ventures apart.
His interest in health and longevity stems from personal experience; he lost his mother at a young age, which prompted him to contemplate his own mortality more deeply.
Reflecting on his time with MoviePass, Watt mentioned that his experiences, including his recent involvement in the documentary “MoviePass, MovieCrash,” have only fueled his determination to innovate, embracing the potential for both success and failure in his new endeavors.