Hamet Watt, co-founder of the now-defunct MoviePass, is shifting his focus from the company’s notable failure to launching a new venture studio aimed at funding and developing startups. Watt is actively working at Share Ventures, which has already raised nearly $20 million, with investments from major players like Alphabet and Amazon.
His new initiative will concentrate on startups in the sectors of future work and longevity. Watt believes the current landscape, marked by an AI surge and elevated interest rates, presents an opportunity for a distinctive venture capital model. For this reason, Share Ventures plans to develop its own software and complex language models to streamline its operations.
He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He views this approach as advantageous in crafting startups from the ground up while utilizing advanced tools.
Watt acknowledged that while many venture firms are investing in new technologies, they often fail to fully implement these innovations within their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he remarked.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at the age of 25. This experience pushed him to reflect on mortality and the importance of health.
Watt’s experience at MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” has only fueled his determination to continue innovating. He expressed a desire to learn from his past experiences and the courage to explore new ventures, regardless of the possibility of failure.