Hamet Watt, co-founder of MoviePass, is shifting focus from the company’s downfall to launching a new venture studio aimed at developing and funding startups.
Watt has founded Share Ventures, which has already secured nearly $20 million in funding from investors including Alphabet and Amazon. The new company is targeting startups in the fields of future work and longevity.
He believes that the current climate of advancements in AI and high interest rates has created opportunities for a new business model. Share Ventures is designing its own software alongside complex language models to streamline its operations and enhance investment strategies.
Watt explained, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He emphasized that this approach allows them to build companies from the ground up while leveraging the latest technologies.
He noted that while many venture firms are investing in new technologies, they often do not fully utilize them in their processes. Watt stated, “Using novel data and automation in our process is something we think is uniquely special to us.”
Watt’s interest in health and longevity is deeply personal, stemming from the loss of his mother when he was just 25 years old. This experience has prompted him to reflect on mortality and the importance of these issues.
Reflecting on his time with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed a determination to continue innovating despite past failures. He shared his mindset, questioning, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”