Hamet Watt, a co-founder of MoviePass, is transitioning from the company’s downfall to focus on a new venture studio aimed at developing and funding startups. In an interview with Business Insider, Watt shared that he is dedicating his efforts to Share Ventures, which has already raised nearly $20 million from investors including Alphabet and Amazon. The firm aims to concentrate on startups related to the future of work and longevity.
Watt believes the current landscape, shaped by the AI boom and elevated interest rates, presents a unique opportunity for a distinctive venture capital model. Share Ventures is developing its own software and complex language models to automate internal processes efficiently. He emphasized that less capital is required to identify opportunities early, which is advantageous for building startups from the ground up while utilizing cutting-edge tools.
He also pointed out that many venture firms are engaging with new technologies in their investments but not fully leveraging them in their operations. Watt’s approach involves using innovative data and automation, which he considers a key aspect of his firm’s uniqueness.
His personal interest in health and longevity was sparked by the early loss of his mother, which made him reflect on mortality. This experience has driven him to pursue innovative ideas despite his previous challenges with MoviePass, which he explored in the documentary “MoviePass, MovieCrash.” Watt’s mindset is one of resilience and a willingness to explore new ventures, regardless of potential risks.