Hamet Watt, co-founder of MoviePass, is transitioning from the company’s notable downfall to spearhead a new venture studio aimed at developing and funding startups.
Watt told Business Insider that he has been actively engaged with Share Ventures, which has already attracted nearly $20 million in funding from notable backers such as Alphabet and Amazon. The focus of his new company is on startups related to the future of work and longevity.
He expressed that the current landscape of venture capital, influenced by the recent AI surge and elevated interest rates, is ideal for a distinctive investment approach. Share Ventures is not only funding new projects but is also developing its own software and sophisticated language models to optimize internal processes.
According to Watt, this strategy allows for smaller capital requirements while enabling quicker assessment of potential opportunities. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools,” he stated.
Watt noted that while many venture firms are investing in emerging technologies, few are fully integrating and utilizing these innovations in their operations. He emphasized that the use of advanced data and automation sets Share Ventures apart.
Watt’s personal history has also shaped his interest in health and longevity; he lost his mother at the young age of 25, which prompted him to contemplate mortality. “When you lose your mom at a young age, it forces you to think about your own mortality,” he remarked.
Reflecting on his previous experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate despite setbacks. He summarized his perspective with a willingness to embrace both the potential for failure and success in his new ventures.