Hamet Watt, co-founder of MoviePass, is finalizing his chapter with the troubled company and is now focused on launching a new venture studio aimed at fostering startup development. Watt recently spoke to Business Insider about his new initiative, Share Ventures, which has successfully obtained nearly $20 million in funding, with significant backing from major players such as Alphabet and Amazon.
Share Ventures will concentrate on startups centered around the future of work and longevity, capitalizing on the current AI surge and high-interest rates to create a distinct approach to venture capital. Watt emphasized that their strategy involves developing proprietary software and advanced language models to enhance their internal operations, demonstrating a need for a model that is both innovative and efficient.
Watt noted that the capability to gain insights on potential opportunities with less capital is advantageous for building companies from the ground up. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he remarked.
He observed that while many venture firms are investing in new technologies, they often fail to implement these innovations within their own operations, an area where Share Ventures aims to excel by leveraging unique data and automation.
Motivated by personal experiences, including the loss of his mother at a young age, Watt has developed a keen interest in health and longevity. He reflects on how this loss shaped his perspective on mortality and fueled his determination to innovate despite the setback with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash.” Watt is now ready to embrace the possibilities of failure and success in his new venture.