The co-founder of MoviePass, Hamet Watt, is transitioning from the company’s dramatic downfall to launching a new venture studio aimed at developing and funding startups.
Watt established Share Ventures, which has already raised nearly $20 million with support from notable investors including Alphabet and Amazon. The focus of the new venture is on startups within the future of work and longevity sectors.
Watt believes that the combination of the AI boom and high interest rates presents a ripe opportunity for a “differentiated model” in venture capital. Share Ventures plans to develop its own software and complex language models to streamline its operations. He explained that smaller fund sizes enable investors to identify opportunities more quickly and with less initial capital, which is advantageous for building companies from the ground up.
He noted that while many venture firms are investing in new technologies, they often do not fully integrate and utilize them in their processes. Watt emphasized that his approach to incorporating novel data and automation sets Share Ventures apart.
His personal experiences also drive his interest in health and longevity, particularly after losing his mother to illness when he was just 25. This loss has profoundly influenced his perspective on mortality and fueled his determination to innovate despite previous setbacks.
Reflecting on his experiences with MoviePass, which he previously discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to learn from past failures and embrace new challenges, stating his commitment to pursuing success even in the face of potential failure.