Hamet Watt, the co-founder of MoviePass, is shifting his focus to a new venture studio aimed at supporting and funding startups. After the dramatic downfall of MoviePass, which he co-founded in 2011, Watt has established Share Ventures, which has already garnered nearly $20 million in investments from notable backers such as Alphabet and Amazon.
Watt’s new initiative will pay special attention to startups in the fields of future work and longevity. He believes that the current landscape, influenced by the AI boom and rising interest rates, presents an opportunity for a distinct model in the venture capital sector. Through Share Ventures, Watt plans to create proprietary software and utilize sophisticated language models to enhance operational efficiency.
In an interview, Watt emphasized the advantage of smaller funding sizes, stating that it enables earlier detection of viable opportunities with reduced capital. This strategic approach allows him to build companies from the ground up while employing cutting-edge tools.
Highlighting the potential of innovation in the venture space, Watt noted that many firms are investing in new technologies but fail to integrate and utilize them effectively in their own operations. He sees this as a unique opportunity for Share Ventures to differentiate itself.
Watt’s passion for health and longevity is deeply rooted in personal experience, as he lost his mother at the young age of 25. This loss has profoundly influenced his outlook on life and mortality, driving him to pursue advancements in health-related fields.
Despite the setbacks he faced with MoviePass, Watt’s resilient spirit fuels his motivation to keep innovating. He draws inspiration from his past experiences, recognizing that each venture—successful or not—provides valuable lessons for the future.
This new venture not only signifies a fresh start for Watt but also embodies a broader trend in the market where entrepreneurs are reshaping traditional business models to adapt to new challenges and opportunities. With a focus on leveraging technology and innovative thinking, Watt’s Share Ventures reflects a hopeful outlook on the future of startups.