Hamet Watt, co-founder of the now-defunct MoviePass, is launching a new venture studio focused on developing and funding startups after experiencing the company’s dramatic downfall. Watt has recently been busy with Share Ventures, which has nearly secured $20 million in funding from prominent investors, including Alphabet and Amazon.
Share Ventures aims to target startups in the fields of future work and longevity. According to Watt, the current landscape of high interest rates and the AI boom presents an opportunity for a differentiated investment model. He stated that the studio is working on its own software and advanced language models to streamline its operations.
Watt remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He believes that this approach is beneficial as they aim to build companies from the ground up using cutting-edge tools.
He noted that while many venture firms are investing in new technologies, they often do not fully integrate or utilize these advancements in their operations. Watt believes that leveraging novel data and automation sets Share Ventures apart from other firms.
His personal experience with loss has also influenced his focus on health and longevity, stemming from the passing of his mother at a young age. Watt expressed, “When you lose your mom at a young age, it forces you to think about your own mortality.”
Reflecting on his experience with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt emphasized the importance of innovation and resilience. He concluded by pondering the lessons learned from his past and the willingness to take new risks, whether they lead to failure or success.