Hamet Watt, co-founder of MoviePass, is transitioning from the company’s dramatic downfall to focus on a new venture studio aimed at developing and funding startups. He has launched Share Ventures, which has raised nearly $20 million in funding from notable investors including Alphabet and Amazon.
Watt explained that the new venture will concentrate on startups related to the future of work and longevity. He sees the current landscape, influenced by the rise of artificial intelligence and high interest rates, as an opportune moment for a unique investment model. Watt emphasized that Share Ventures plans to create its own software and employ advanced language models to enhance internal operations.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach allows them to build companies from the ground up with cutting-edge tools.
Watt pointed out that while many venture firms are putting money into emerging technologies, they often do not fully leverage these innovations in their processes. He believes that incorporating novel data and automation distinguishes Share Ventures from its competitors.
His personal experiences have fueled his interest in health and longevity, particularly after the loss of his mother at a young age. “When you lose your mom at a young age, it forces you to think about your own mortality,” he shared.
Reflecting on his experience with MoviePass, which he revisited in the HBO documentary “MoviePass, MovieCrash,” Watt expressed that his past challenges inspire him to continue innovating, regardless of the risk of failure.