Hamet Watt, co-founder of MoviePass, is moving on from the company’s notable decline and is now focusing on launching a new venture studio aimed at developing and funding startups.
Watt recently shared with Business Insider that he has been actively working on Share Ventures, which has raised nearly $20 million in funding with investors including Alphabet and Amazon. The new venture aims to concentrate on startups within the realms of future work and longevity.
He believes that the current landscape, influenced by the AI boom and high interest rates, presents an opportunity for a distinct venture capital model. Share Ventures plans to integrate its own software and complex language models to streamline its operations, allowing for earlier identification of opportunities with less financial investment.
Watt pointed out that while many venture firms are investing in new technologies, they often do not utilize these innovations themselves. He emphasized that leveraging novel data and automation in their processes sets them apart.
His interest in health and longevity was sparked by personal loss; he lost his mother at the age of 25 when she was only 49. This experience has influenced his perspective on life and mortality.
Reflecting on his past with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate. He expressed a desire to explore new ideas with the understanding that while failure is possible, so is success.