Hamet Watt, co-founder of MoviePass, is leaving behind the company’s notable downfall to focus on a new venture studio aimed at supporting startups. Watt has been busy with Share Ventures, which has nearly raised $20 million in funding from prominent investors including Alphabet and Amazon.
The new venture will concentrate on companies within the future of work and longevity sectors. Watt views the current landscape, influenced by the rise of artificial intelligence and elevated interest rates, as an opportunity for a unique investment model. Share Ventures plans to develop its own software and complex language models to streamline its internal operations.
Watt emphasized that with smaller funding requirements, investors can identify promising opportunities more quickly. This approach is beneficial for Share Ventures as they work on developing startups from the ground up using cutting-edge technologies.
While many venture capital firms are allocating funds toward new technologies, Watt believes they often do not integrate or utilize these innovations in their processes. He asserts that employing novel data and automation distinguishes Share Ventures in the competitive landscape.
Watt’s interest in health and longevity stems from a personal loss; his mother passed away at the age of 49 when he was just 25. This experience has profoundly impacted his perspective on life and mortality.
Reflecting on the lessons learned from his previous venture with MoviePass, which faced significant challenges, Watt remains driven to innovate. He expressed a desire to explore new opportunities, willing to face the potential for failure in pursuit of success.