The co-founder of MoviePass, Hamet Watt, is moving beyond the company’s dramatic downfall to launch a new venture studio aimed at developing and funding startups. Watt revealed that his new company, Share Ventures, has raised nearly $20 million in funding, with notable investors including Alphabet and Amazon. The focus of Share Ventures will be on startups related to the future of work and longevity.
Watt highlighted how the current landscape, characterized by the AI boom and high interest rates, presents a unique opportunity for a “differentiated” venture capital model. Share Ventures plans to integrate their own software and complex language models to streamline internal processes. He noted that this approach would allow for earlier identification of opportunities with less capital investment, which is advantageous for building companies from the ground up.
He expressed a belief that while many venture firms are investing in innovative technologies, few are truly integrating and utilizing these advancements in their operations. Watt underscored the uniqueness of using novel data and automation as part of their strategy.
His interest in health and longevity was deeply personal, stemming from the loss of his mother at the young age of 25, which prompted him to reflect on mortality. Watt’s previous experience with MoviePass, detailed in the documentary “MoviePass, MovieCrash,” has further fueled his motivation to innovate despite challenges. He remains committed to exploring new ventures with the understanding that while failure is possible, success is also within reach.