Hamet Watt, the co-founder of MoviePass, is moving on from the company’s downfall and is in the process of launching a new venture studio aimed at supporting startups.
Watt told Business Insider that he has been focused on Share Ventures, which has raised nearly $20 million in funding from notable investors, including Alphabet and Amazon. This new venture aims to concentrate on startups in the future of work and longevity sectors.
He believes that the current landscape, characterized by an AI boom and high interest rates, presents an opportunity for a unique investment model. As a result, Share Ventures is developing its own software and complex language models to streamline its internal operations.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt explained. “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 noted that while many venture firms are investing in emerging technologies, they often do not fully integrate these innovations into their own processes.
“Using novel data and automation in our process is something we think is uniquely special to us,” he remarked.
His interest in the realms of health and longevity stems from a personal experience; Watt lost his mother at the age of 25, which profoundly impacted his perspective on mortality.
“When you lose your mom at a young age, it forces you to think about your own mortality, in a way that I don’t know that I was conscious of at the time,” he shared.
Despite his challenges with MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash,” Watt remains dedicated to innovation.
“What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he concluded.