The co-founder of MoviePass, Hamet Watt, is moving past the company’s notable downturn and is now focused on raising funds for a new venture studio designed to support and develop startups. Watt shared with Business Insider that he has been actively working at his new venture, Share Ventures, which has already secured nearly $20 million in funding from investors, including tech giants Alphabet and Amazon.
Share Ventures aims to concentrate on startups in the areas of future work and longevity. Watt believes that the current landscape, marked by the rapid growth of artificial intelligence and rising interest rates, offers a perfect environment for a new approach in venture capital, which he describes as “differentiated.” The company plans to create its own software and utilize advanced language models to automate internal tasks, allowing for more nimble operations with smaller funding requirements.
Watt emphasizes that while many venture firms are investing in new technologies, they often do not integrate these innovations into their own processes. He believes that employing novel data and automation sets Share Ventures apart from its competitors.
His personal interest in health and longevity was sparked at the age of 25 when he lost his mother, who was only 49 at the time. This experience has deeply influenced his perspective on life and mortality.
Despite the setbacks faced with MoviePass, which he recounted in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate. He acknowledges the lessons learned from past failures and expresses a readiness to take new risks, hoping for potential success in his future endeavors.