Hamet Watt, the co-founder of MoviePass, is shifting his focus from the company’s well-known decline to launching a new venture firm aimed at developing and funding startups. Watt is currently involved with Share Ventures, which has successfully raised nearly $20 million with support from major investors including Alphabet and Amazon.
In an interview, he shared that Share Ventures intends to concentrate on startups working within the future of work and longevity sectors. Watt noted that the current landscape, marked by the surge in artificial intelligence and high interest rates, presents an opportunity for a unique venture capital model. Consequently, Share Ventures is integrating its own software and advanced language models to streamline internal operations.
Watt emphasized that this new approach requires less capital while still allowing investors to identify promising opportunities early in the process. He expressed confidence in building companies from the ground up by harnessing the latest technology proactively.
He also pointed out that while many venture firms are investing in emerging technologies, not many are fully utilizing these innovations in their operations. Watt believes that incorporating novel data and automation into their strategy sets Share Ventures apart.
His personal journey into health and longevity was inspired by the loss of his mother at a young age, which forced him to confront his own mortality. Reflecting on his experiences with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt remains determined to pursue innovation, even in the face of potential failure.