The co-founder of MoviePass, Hamet Watt, is moving forward after the company’s significant downfall and is now focusing on a new venture studio aimed at developing and funding startups. In an interview with Business Insider, Watt shared insights on his new company, Share Ventures, which has successfully raised nearly $20 million in funding from investors including Alphabet and Amazon.
Share Ventures is concentrating on startups within the realms of future work and longevity. According to Watt, the current landscape, characterized by an AI revolution and high interest rates, calls for a unique approach to venture capital. This has led Share Ventures to create its own software and complex language models to streamline internal processes.
Watt emphasized the benefits of needing less capital up-front, allowing for early signals of opportunity when launching new companies. He remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” highlighting the advantage of utilizing advanced tools in company building.
He noted that while many venture firms are investing in new technologies, they often do not integrate these innovations into their operations. Watt believes that using unique data and automation gives Share Ventures a distinct edge.
His personal journey into health and longevity was sparked by the loss of his mother at the young age of 25. This experience has profoundly influenced his perspective on mortality and sparked his interest in the fields he now seeks to impact through his new venture.
Watt also reflected on his experiences with MoviePass, which he discussed in the recent documentary “MoviePass, MovieCrash.” He articulated his desire to learn from past failures and continue pursuing innovation, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”