Hamet Watt, co-founder of MoviePass, is moving forward from the company’s infamous decline and is now focused on raising funds for a new venture studio aimed at developing and financing startups.
Watt shared with Business Insider that he has been actively involved in Share Ventures, which has raised nearly $20 million with the support of investors such as Alphabet and Amazon. The new venture is concentrating on startups within the realms of future work and longevity.
Watt believes that the current landscape of venture capital, marked by the rise of artificial intelligence and elevated interest rates, is ideal for a distinctive model. In response, Share Ventures is developing its own software along with advanced language models to enhance its operational efficiency.
He explained, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt pointed out that while many venture firms are putting money into these technologies, they often do not fully integrate or utilize them in their operations.
He emphasized that their unique approach involves employing innovative data and automation within their processes.
Watt’s personal interest in health and longevity stemmed from losing his mother at the age of 25, when she was only 49 years old. He reflected on how such a loss made him more aware of mortality.
His previous experience with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” has only strengthened his determination to continue innovating. He expressed a willingness to learn from past failures and to embrace new challenges with the possibility of success.