Hamet Watt, co-founder of MoviePass, is moving on from the company’s dramatic collapse to launch a new venture studio aimed at developing and funding startups. He has been working on Share Ventures, which has already attracted nearly $20 million in investment from notable backers including Alphabet and Amazon.
The focus of Share Ventures will be on startups in the future of work and longevity sectors. Watt believes that the current landscape of venture capital, shaped by the boom in artificial intelligence and high interest rates, is conducive to a “differentiated model.” As a result, Share Ventures is creating its own software along with complex language models to streamline its internal operations.
He explained that smaller funds are now able to identify opportunities much earlier with less capital, which benefits the approach his firm is taking. He emphasized that unlike many venture firms that are investing in new technologies, they are not fully utilizing them in their operations.
Watt’s interest in health and longevity is deeply personal; he began exploring this field after the loss of his mother at the young age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he openly discussed in the documentary “MoviePass, MovieCrash,” Watt sees his past failures as motivation to continue innovating and exploring new opportunities. He is driven by the questions of what he has learned and the courage to venture out again, whether it leads to failure or success.