Hamet Watt, co-founder of the failed subscription service MoviePass, is embarking on a new venture after the company’s downfall. He is currently raising funds for Share Ventures, a studio geared towards developing and financing startups.
Share Ventures has already garnered nearly $20 million in funding from prominent investors, including tech giants Alphabet and Amazon. Watt’s focus for this new initiative lies in startups related to the future of work and longevity sectors.
Watt believes that the current climate shaped by the AI boom and elevated interest rates makes venture capital ripe for a unique approach. As a result, Share Ventures aims to develop proprietary software and sophisticated language models to streamline its internal operations.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt explained. He emphasized that their strategy leverages cutting-edge tools to build companies from the ground up.
While many venture firms are investing in emerging technologies, Watt noted that they are not fully utilizing and adopting these innovations themselves. He expressed that incorporating advanced data and automation into their processes sets Share Ventures apart.
A personal catalyst for Watt’s interest in health and longevity came from the tragic loss of his mother, who died at the age of 49 when he was just 25. This experience prompted him to reflect on mortality and the importance of health.
With his previous experience at MoviePass, which is explored in the documentary “MoviePass, MovieCrash,” Watt is motivated to continue innovating, eager to learn from past failures and embrace the possibility of success in his new ventures.