Hamet Watt, the co-founder of MoviePass, is moving forward from the company’s notable downfall and is now focused on raising funds for a new venture studio aimed at supporting startups. Watt has been actively working on Share Ventures, which has successfully attracted nearly $20 million from investors including Alphabet and Amazon. The company is set to concentrate on startups in the realms of the future of work and health longevity.
Watt believes the current landscape of venture capital, influenced by the AI surge and elevated interest rates, presents a unique opportunity for a “differentiated model.” As a result, Share Ventures plans to develop its own software and complex language models to streamline its internal operations. He emphasized that smaller funds allow for earlier insights into opportunities with less capital, making it easier to build new companies from scratch with the most cutting-edge tools available.
He pointed out that while many venture firms are investing in emerging technologies, they often do not fully incorporate them within their own processes. Watt feels that leveraging innovative data and automation distinguishes Share Ventures from its competitors.
His personal experiences have played a significant role in shaping his interests, particularly in health and longevity, which were sparked by the loss of his mother at a young age. This personal tragedy made him more aware of mortality.
Reflecting on his time with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt expressed that the setbacks he faced only fuel his desire to innovate, stating he is eager to take on new challenges despite the possibility of failure.