Hamet Watt, co-founder of MoviePass, is moving forward after the company’s notable downfall, launching a new venture studio aimed at supporting and funding startups. Watt is now at the helm of Share Ventures, which has raised nearly $20 million in funding with notable investors like Alphabet and Amazon.
He shared with Business Insider that Share Ventures is concentrating on startups within the fields of future work and longevity. Watt believes the current climate, marked by advancements in AI and high interest rates, presents an opportunity for a “differentiated” venture capital model. To adapt to these conditions, Share Ventures plans to develop its own software alongside advanced language models to streamline its operations.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt explained. He emphasized that this approach benefits their strategy of building companies from the ground up while utilizing the latest tools.
Watt pointed out that while many venture firms are investing in new technologies, few fully integrate and apply these innovations in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he added.
His interest in health and longevity was sparked by personal loss; he lost his mother at age 25 when she was just 49. This experience has profoundly influenced his perspective on mortality and his current business pursuits.
Reflecting on his experience with MoviePass, which was explored in the documentary “MoviePass, MovieCrash,” Watt stated that his past challenges fuel his drive to innovate and take risks. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he concluded.