Hamet Watt, co-founder of MoviePass, is moving on from the company’s notable decline and is now focused on launching a new venture studio aimed at developing and funding startups. In an interview with Business Insider, Watt shared that he has been busy with Share Ventures, which has attracted nearly $20 million in funding from notable investors including Alphabet and Amazon.
Share Ventures is concentrating on startups situated in the realms of future work and longevity. Watt believes that the current landscape, shaped by the AI surge and elevated interest rates, is conducive to a new investment model. He explained that Share Ventures intends to create its own software and leverage sophisticated language models to streamline its internal processes.
Watt emphasized that smaller funding amounts are sufficient to identify opportunities early on, which is advantageous for building companies from the ground up using advanced tools. He also noted that many venture firms are backing these emerging technologies without truly integrating them into their operations.
His passion for health and longevity was ignited after the loss of his mother at the age of 25, which he described as a pivotal moment that made him more aware of mortality. Reflecting on the challenges faced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue innovating despite past failures, stating that he aims to take calculated risks in his new endeavors.