Hamet Watt, co-founder of MoviePass, is transitioning from the company’s notable downfall to raise funds for a new venture studio aimed at developing and financing startups. He has established Share Ventures, which has already attracted nearly $20 million in investment from backers including Alphabet and Amazon. The focus of Share Ventures will be on startups within the future of work and longevity sectors.
Watt expressed that the current landscape, marked by the rise of AI and elevated interest rates, creates opportunities for a “differentiated model” in venture capital. As part of this approach, Share Ventures plans to build its own software and leverage complex language models to enhance its functionalities. According to Watt, this strategy allows for smaller funding requirements and earlier recognition of opportunities, facilitating the creation of new companies with advanced tools.
He noted that while many venture firms are investing in emerging technologies, they often do not fully utilize them in their operations. Watt believes that incorporating innovative data practices and automation distinguishes Share Ventures in the market.
His interest in health and longevity stems from a personal tragedy, having lost his mother at the age of 25. This experience has profoundly influenced his perspective on mortality and innovation.
Reflecting on the lessons from his experience with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains committed to pursuing new ventures, embodying a spirit of willingness to experiment and innovate, regardless of the potential for failure.