Hamet Watt, co-founder of MoviePass, is shifting focus from the company’s dramatic decline to launch a new venture studio dedicated to developing and funding startups. He has been actively working at Share Ventures, which has attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Watt’s new venture aims to concentrate on startups that tackle issues related to the future of work and longevity. He believes that the current environment, characterized by an AI boom and high interest rates, has created opportunities for a differentiated capital model. Share Ventures plans to develop its own software and utilize complex language models to streamline internal operations, enabling earlier identification of investment opportunities with less capital.
Watt commented on the traditional venture model, noting that while many firms are investing in new technologies, they often do not incorporate or leverage these innovations in their own processes. He highlighted the importance of using novel data and automation as a distinctive aspect of Share Ventures.
His interest in health and longevity was sparked by a personal tragedy—losing his mother at the young age of 25. This experience prompted him to reflect on mortality and has influenced his current entrepreneurial path. Despite the setbacks he faced with MoviePass, which he detailed in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation and is eager to explore new ventures, acknowledging the potential for both failure and success.