Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s notable downfall to launching a new venture studio aimed at supporting and funding startups.
Watt has established Share Ventures, which has successfully raised nearly $20 million, with investments from notable backers such as Alphabet and Amazon. The new venture primarily targets startups within the future of work and longevity sectors.
He believes that the current landscape, influenced by the AI boom and elevated interest rates, presents an opportunity for a new and unique funding model. Watt indicated that Share Ventures is innovating by developing its own software and utilizing advanced language models to optimize its operations efficiently.
Watt noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” emphasizing that this approach allows them to build companies from the ground up using cutting-edge tools.
He also expressed concern that while many venture firms are investing in new technologies, they are not fully incorporating them into their operations. Watt remarked that leveraging advanced data and automation sets Share Ventures apart from others in the industry.
His passion for health and longevity was ignited by a personal tragedy; Watt lost his mother at the young age of 25 when she was just 49. This experience compelled him to confront his own mortality, shaping his interests and aspirations.
Reflecting on his experiences with MoviePass, which he detailed in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”