Hamet Watt, the co-founder of MoviePass, is shifting his focus from the company’s dramatic downfall to a new venture studio aimed at developing and financing startups. He has launched Share Ventures, which has already raised nearly $20 million from investors including Alphabet and Amazon.
Watt envisions the new company as a platform concentrating on startups in the areas of future work and longevity. He believes that the current environment of artificial intelligence growth and rising interest rates has created an opportunity for a distinct investment model. Share Ventures is not only looking to fund businesses but also creating its own software and complex language models to enhance internal efficiency.
Watt expressed that with the right tools, less initial capital is needed to identify promising opportunities. “We’re building companies from scratch using the most advanced tools proactively,” he noted. He pointed out that while many venture firms invest in new technologies, they often do not incorporate those technologies into their operations, which is a unique aspect of Share Ventures.
His personal experiences have deeply influenced his interest in health and longevity, stemming from the loss of his mother at the age of 25. This loss has driven him to reflect on mortality and the importance of extending life.
Watt recently shared insights about his experiences with MoviePass in the documentary “MoviePass, MovieCrash,” reflecting on the lessons learned from the company’s failure and expressing his determination to continue innovating despite challenges.