The co-founder of MoviePass, Hamet Watt, is moving forward from the company’s tumultuous downfall to spearhead a new venture studio aimed at developing and funding startups. His new initiative, Share Ventures, has reportedly raised nearly $20 million from notable investors including Alphabet and Amazon.
Watt shared that Share Ventures will particularly focus on startups that are innovating in the realms of the future of work and longevity. He suggests that the current landscape—marked by the AI boom and rising interest rates—creates an opportunity for a distinct model in venture capital. This is why Share Ventures is pushing to create proprietary software alongside utilizing advanced language models to streamline its operations.
Watt stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” highlighting the advantages of building companies from the ground up with sophisticated tools. He believes that many venture firms are investing in new technologies but are not fully integrating these innovations into their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he explained.
His personal life experiences, particularly the loss of his mother at a young age, have significantly shaped his interests in health and longevity. Reflecting on this loss, he indicated that it compelled him to consider mortality and life’s deeper meanings, which now informs his work.
Despite the challenges faced with MoviePass, Watt remains undeterred, as he embraces the lessons learned from that experience. He echoes a spirit of resilience, saying, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”
This new chapter for Watt showcases not just a commitment to innovation but also a passion for addressing the pressing issues of health and longevity, presenting a hopeful future for entrepreneurial ventures in these critical areas. His journey underscores the idea that setbacks can lead to renewed purpose and exploration in the startup landscape.