Hamet Watt, co-founder of MoviePass, is stepping away from the company’s dramatic decline to focus on a new venture studio aimed at developing and funding startups. In an interview with Business Insider, Watt shared his journey with Share Ventures, which has recently secured nearly $20 million in funding from notable investors including Alphabet and Amazon.
Watt emphasized that Share Ventures is targeting investments in the future of work and longevity sectors. He believes the current landscape shaped by the AI boom and elevated interest rates presents an opportunity for a differentiated investment model. As a result, the company is not only funding startups but also creating its own software and sophisticated language models to streamline internal processes.
He expressed that smaller funds are now more effective for early-stage opportunities, allowing them to build companies from the ground up while leveraging advanced technologies. Watt pointed out a trend among many venture firms that invest in new technologies without fully integrating them into their operations, positioning Share Ventures as a unique player in the space by utilizing novel data and automation in their investment process.
Watt’s personal experiences have also influenced his focus on health and longevity, sparked by the loss of his mother when he was just 25 years old. He reflected on how this profound loss prompted a deeper awareness of his own mortality, inspiring his current initiatives.
Despite the challenges faced during his time with MoviePass, recently featured in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate and embrace new opportunities, acknowledging the potential for both failure and success in entrepreneurship.