Hamet Watt, a co-founder of MoviePass, is stepping away from the company’s notable downfall to launch a new venture studio aimed at supporting the development and funding of startups.
Watt has been actively working on Share Ventures, which has successfully secured nearly $20 million in funding, supported by investors including Alphabet and Amazon. The new venture is concentrating on startups in the fields of future work and longevity.
According to Watt, the current environment shaped by the AI boom and elevated interest rates presents an opportunity for a distinctive venture capital model. Share Ventures plans to develop its own software and sophisticated language models to enhance internal efficiency.
He emphasized that smaller funds can provide insights on investment opportunities much sooner and with less capital, which is advantageous for building new companies using advanced tools.
Watt noted that many venture firms are investing in innovative technologies but are not implementing them effectively in their own operations.
In a personal reflection, Watt shared that his interest in health and longevity was profoundly influenced by the loss of his mother at the age of 25 when she was just 49. This experience prompted him to contemplate mortality in a deeper way.
Despite the challenges faced with MoviePass, which he detailed in a recent documentary, Watt remains committed to pursuing innovation. He expressed a desire to embrace the lessons learned from his past experiences, whether they lead to success or further challenges.