Hamet Watt, co-founder of MoviePass, is moving forward after the company’s dramatic decline and is now in the process of funding a new venture studio aimed at supporting and developing startups. Watt has been working on Share Ventures, which has already attracted nearly $20 million in funding from investors including Alphabet and Amazon.
The focus of this new venture is on companies involved in future work and longevity. Watt believes that the current landscape of venture capital, influenced by the rise of AI and high interest rates, creates an opportunity for a “differentiated model.” Share Ventures plans to integrate its own software and complex language models to streamline internal operations.
Watt emphasized that with this approach, it’s possible to identify promising opportunities earlier with less investment. He believes this is advantageous, as Share Ventures is committed to building new companies from the ground up using cutting-edge tools. He observed that, while many venture firms are pouring money into emerging technologies, they do not necessarily utilize those innovations in their operations.
Watt’s passion for health and longevity stems from a personal loss; he lost his mother at the age of 25 when she was only 49. This experience prompted him to reflect on his own mortality.
Despite the challenges faced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to pursue innovation. He reflected on the lessons learned from his past experiences, noting that he is willing to take risks again, acknowledging the possibility of failure along with the potential for success.