The co-founder of MoviePass, Hamet Watt, is moving past the company’s dramatic downfall and is now focusing on a new venture studio aimed at developing and funding startups. Watt recently announced that his new company, Share Ventures, has raised nearly $20 million in funding from prominent investors, including Alphabet and Amazon.
Share Ventures will target startups in the evolving sectors of work and longevity. Watt believes that the current landscape, influenced by the surge in artificial intelligence and high-interest rates, presents an opportunity for a unique investment model. He mentioned that Share Ventures is not only investing but also creating software and advanced language models to streamline its internal operations.
According to Watt, this approach allows for smaller funds to identify opportunities earlier, which is beneficial as they build companies from the ground up using state-of-the-art tools. He remarked that while many venture firms are investing in emerging technologies, they are not fully integrating or utilizing these innovations in their own processes.
Reflecting on his personal motivation, Watt discussed his interest in health and longevity, which was deeply influenced by the loss of his mother at a young age. He expressed how her passing made him more aware of life’s fragility and his own mortality.
Watt also touched on his experiences with MoviePass and shared insights from the recent documentary “MoviePass, MovieCrash,” emphasizing his determination to innovate regardless of past failures and his willingness to embrace new challenges.