Hamet Watt, co-founder of MoviePass, is transitioning from the company’s tumultuous history to establish a new venture studio aimed at supporting startups. Watt has been actively working on Share Ventures, which has already raised nearly $20 million in funding, with notable investors like Alphabet and Amazon backing the initiative.
The new venture is concentrating on startups involved in the future of work and longevity sectors. Watt believes the current landscape, influenced by the rise of artificial intelligence and high interest rates, is conducive to adopting a “differentiated model” for venture capital. Share Ventures is developing its own software and complex language models to enhance internal operations.
Watt explained that smaller funds can yield effective results through early signals in investment opportunities, which benefits their model of building companies from the ground up using advanced tools. He emphasized that many venture firms are investing in innovative technologies but are not fully integrating them into their processes.
Watt’s interest in health and longevity was sparked by personal tragedy, having lost his mother at the age of 25. This experience made him more aware of mortality and inspired his current focus. Despite the challenges faced with MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate and take risks in his new endeavors.