Hamet Watt, co-founder of the now-defunct MoviePass, is moving forward from the company’s collapse to launch a new venture studio aimed at developing and financing startups. Watt has been diligently working on Share Ventures, which has already raised nearly $20 million in funding from prominent investors including Alphabet and Amazon. The focus of this new venture will be on startups within the future of work and longevity sectors.
Watt believes that the current climate, influenced by the rise of artificial intelligence and elevated interest rates, has created an opportunity for a unique investment model. Share Ventures plans to develop its own software along with advanced language models to streamline internal operations, which Watt suggests allows for quicker assessments of investment opportunities with lower capital requirements.
He emphasized that many venture firms are investing in emerging technologies without fully integrating and utilizing them in their own processes. Watt considers the use of innovative data and automation a distinctive advantage for Share Ventures.
His personal interest in health and longevity is rooted in a profound loss; he lost his mother at the young age of 25 when she was just 49. This experience has shaped his perspective on mortality and fueled his desire to innovate in the healthcare space.
Reflecting on his previous venture, Watt recently shared insights about his experiences with MoviePass in the documentary “MoviePass, MovieCrash.” He conveyed a sense of resilience, pondering what lessons he’s learned and expressing a willingness to embrace both the potential for failure and success in his future endeavors.