Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s notable downfall. He is launching Share Ventures, a venture studio aimed at developing and financing startups.
Watt shared with Business Insider that Share Ventures has raised nearly $20 million, attracting investors including Alphabet and Amazon. The studio will focus on companies related to the future of work and longevity sectors.
He believes that the current landscape, influenced by the rise of artificial intelligence and high interest rates, is primed for innovative investment approaches. Share Ventures plans to create its own software and utilize complex language models to streamline internal operations, allowing for quicker identification of opportunities with less capital.
Watt noted that while many venture firms are investing in new technologies, few are integrating and utilizing these innovations themselves. He emphasized that their use of novel data and automation sets Share Ventures apart.
His personal journey into health and longevity was sparked by the loss of his mother at the age of 25. This experience has profoundly influenced his perspective on life and mortality.
Watt reflected on his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” stating that his failure there only fuels his desire to innovate and take risks in new ventures. He expressed a determination to learn from past experiences and to continue pushing forward, regardless of the outcome.