Hamet Watt, co-founder of the once-popular subscription service MoviePass, is embarking on a new journey by launching a venture studio called Share Ventures, aimed at developing and funding startups. After MoviePass’s infamous collapse, Watt is determined to move forward and has already secured nearly $20 million in funding from investors including Alphabet and Amazon.
Share Ventures will focus on innovative startups in the areas of future work and longevity. Watt believes that current conditions, including the AI boom and high interest rates, create opportunities for a distinctive investment model. He plans to leverage advanced technology, including software and complex language models, to streamline and enhance their internal processes.
Watt emphasized the advantages of smaller funding for identifying promising opportunities early on. He aims to build new companies from the ground up while utilizing cutting-edge tools to facilitate proactive development.
He pointed out that many venture capital firms are investing in new technologies but are not fully integrating them into their operations. Watt stated that the use of novel data and automation distinguishes Share Ventures from others in the field.
His personal connection to the health and longevity sectors stems from a deep loss; he lost his mother at a young age, which profoundly impacted his perspective on life and mortality. This experience has fueled his interest in advancing longevity technologies.
Despite the setbacks of MoviePass, which he reflected on in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation. He expresses a desire to learn from past experiences and take bold steps towards potential success in his new venture.