Hamet Watt, co-founder of MoviePass, is moving forward after the company’s dramatic downfall by launching a new venture studio aimed at supporting and funding startups. Watt has been actively working on Share Ventures, which has already raised nearly $20 million from investors, including tech giants Alphabet and Amazon.
The new venture will concentrate on innovative startups within the fields of the future of work and longevity. Watt believes the current economic climate, characterized by an AI boom and high-interest rates, presents an opportunity for venture capital with a unique and differentiated approach. Share Ventures is not only funding startups but is also developing its own software and advanced language models to streamline internal operations.
Watt pointed out that the changing landscape allows for smaller funds and quicker identification of viable investment opportunities, which is beneficial for building companies from the ground up with cutting-edge tools. He noted that while many venture firms are investing in new technologies, few are fully integrating and utilizing those technologies in their processes.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at a young age. This experience has shaped his perspective on mortality and the importance of innovation in health.
Reflecting on the challenges faced during MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains driven to innovate: “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”