Hamet Watt, co-founder of MoviePass, is moving forward from the company’s downfall to establish a new venture studio aimed at nurturing startups. Watt recently shared details about his new company, Share Ventures, which has already garnered nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Share Ventures will concentrate on burgeoning industries related to the future of work and longevity. Watt believes that the current landscape of venture capital, influenced by the surge in artificial intelligence and elevated interest rates, is ripe for a new approach. He emphasized that the venture plans to develop its own software and complex language models to streamline its internal operations.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt stated, highlighting the advantages for startups being built from the ground up using advanced tools.
Watt noted that although many venture firms are investing in new technologies, few are actually integrating and utilizing them in their processes. He believes that applying innovative data and automation sets Share Ventures apart.
His personal experience with loss has fueled his interest in health and longevity. Watt lost his mother unexpectedly at the age of 25, an event that deeply influenced his perspective on life and mortality.
Reflecting on his time with MoviePass, which has faced criticism and scrutiny, Watt expressed a desire to continue innovating. He recently shared his insights on the company’s journey in the documentary “MoviePass, MovieCrash,” where he contemplates the lessons learned from the experience and his commitment to pursuing new ventures, regardless of the possibility of failure.