Hamet Watt, co-founder of the defunct subscription service MoviePass, is launching a new venture studio aimed at developing and funding startups. After the dramatic collapse of MoviePass, which he established in 2011, Watt has shifted his focus to Share Ventures.
The new company has already raised nearly $20 million in funding, with notable backers including tech giants Alphabet and Amazon. Watt revealed that Share Ventures will center on innovations in the future of work and longevity sectors.
He believes the current landscape, influenced by the rise of artificial intelligence and elevated interest rates, presents a unique opportunity for a differentiated investment approach. Share Ventures plans to build its own software and utilize complex language models to automate its operations, enabling them to assess opportunities with less capital and sooner than traditional methods.
Watt noted that while many venture firms are investing in new technologies, they often do not leverage these innovations within their own processes. He emphasized that integrating novel data and automation sets Share Ventures apart.
Watt’s interest in health and longevity has personal roots; he experienced the loss of his mother when he was just 25, an event that profoundly affected his perspective on life and mortality. His journey in the venture world continues to be fueled by a desire to innovate and learn from past experiences, including his time with MoviePass, which has been discussed in the recent documentary “MoviePass, MovieCrash.”