Hamet Watt, co-founder of MoviePass, is moving on from the company’s abrupt downfall to focus on a new venture studio aimed at developing and funding startups. Watt has been busy establishing Share Ventures, which has already raised nearly $20 million, with investment from major backers such as Alphabet and Amazon.
The new venture will concentrate on startups in the areas of future work and longevity. Watt expressed that the current landscape, influenced by the AI surge and high interest rates, provides an opportunity for a unique approach in venture capital. Share Ventures plans to create its own software and utilize advanced language models to enhance its internal operations.
Watt pointed out that there is less need for large funds in the current environment, enabling early detection of opportunities with minimal capital. This is beneficial for building new companies using cutting-edge tools.
He noted that while many venture firms are investing in emerging technologies, they are not fully incorporating and utilizing them in their processes, which he sees as a distinction for Share Ventures.
Watt’s personal experiences also drive his focus on health and longevity, stemming from the loss of his mother at a young age. He reflected that this tragedy prompted him to confront his own mortality, a realization that continues to influence his professional endeavors.
Despite the setbacks experienced with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate and explore new opportunities, embracing the possibility of both failure and success.