Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notorious downfall by initiating a new venture studio aimed at developing and funding startups. Watt recently spoke to Business Insider about his latest project, Share Ventures, which has raised nearly $20 million in funding from notable backers like Alphabet and Amazon.
The focus of Share Ventures will be on startups in the fields of future work and longevity. Watt believes that the current environment, influenced by the AI boom and high interest rates, creates an opportunity for a unique venture capital model. His firm plans to develop its own software and complex language models to enhance operational efficiency.
Watt expressed that smaller funds can discern potential opportunities earlier, allowing for agile startup creation with advanced tools. He noted that while many venture firms are investing in new technologies, few actively incorporate and utilize them in their operations.
His personal motivations are deeply rooted; after losing his mother at a young age, he developed a strong interest in health and longevity. The lessons learned from his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” have fueled his desire to continue innovating, regardless of the prospect of failure.