Hamet Watt, the co-founder of MoviePass, is moving on from the company’s dramatic downfall and is now focused on a new venture studio aimed at developing and funding startups. Watt revealed to Business Insider that he has been actively working on Share Ventures, which has already secured nearly $20 million in funding with notable backers like Alphabet and Amazon.
Share Ventures is concentrating on startups in the areas of future work and longevity. Watt believes that the current landscape, influenced by the AI boom and high interest rates, has created a favorable environment for a “differentiated model” in venture capital. He mentioned that his company is developing its own software alongside advanced language models to streamline internal operations.
“You don’t need as large of funds, and you can identify opportunities much earlier with significantly less capital,” Watt explained. “This is advantageous for us as we are building companies from the ground up using the most advanced tools available.”
Watt pointed out that while many venture firms are investing in new technologies, few are genuinely utilizing them in their processes. He emphasized the unique approach of incorporating novel data and automation into their operations.
His personal interest in health and longevity was sparked by the early loss of his mother at the age of 25. “Losing my mom at a young age made me acutely aware of my own mortality,” he shared.
Reflecting on his experiences with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt expressed that his previous failures have only fueled his desire to innovate. “What have I learned, and what do I have the guts to try now—whether I fail again or find success?”