Hamet Watt, co-founder of MoviePass, is moving on from the company’s notable downfall and is now focused on raising funds for a new venture studio aimed at developing and supporting startups.
Share Ventures, the new enterprise that Watt has established, has nearly secured $20 million in funding from investors including Alphabet and Amazon. The venture is set to target startups within the work and longevity sectors.
Watt believes that the current AI boom and elevated interest rates present a favorable environment for innovative venture capital models. Share Ventures plans to develop proprietary software alongside advanced language models to streamline its internal operations, as reported by Business Insider.
He stated, “You don’t need as large of funds, and you can get signals on opportunities much earlier with less capital.” This approach allows them to build companies from the ground up while utilizing cutting-edge tools.
Watt emphasized that many venture firms are investing in new technologies without fully integrating and leveraging them in their operations. He believes that incorporating unique data and automation processes sets his venture apart.
A personal tragedy profoundly influenced Watt’s interest in health and longevity after he lost his mother at the age of 25 when she was only 49. This loss prompted deep reflections on mortality.
In light of his past experience with MoviePass, which he recently examined in the documentary “MoviePass, MovieCrash,” he remains motivated to pursue innovation despite the possibility of failure. He reflected, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”