Hamet Watt, a co-founder of MoviePass, is moving forward from the company’s well-publicized collapse by establishing a new venture studio focused on supporting startups. His new company, Share Ventures, has raised nearly $20 million in funding, with investments from major players such as Alphabet and Amazon. Watt shared that the studio is concentrating on businesses within the future of work and longevity sectors.
He believes that the current environment, characterized by the rise of artificial intelligence and high interest rates, creates an opportunity for a distinct approach in venture capital. Share Ventures aims to develop its own software and complex language models to streamline operations and enhance efficiency. Watt explained that smaller funds can now yield significant insights into opportunities earlier, allowing for the creation of companies from the ground up with the latest technological tools.
Watt noted that many venture firms are investing in emerging technologies but may not be fully leveraging them internally. He emphasized that incorporating innovative data and automation into their processes sets Share Ventures apart.
His interest in health and longevity was partly shaped by the loss of his mother when he was just 25 years old, prompting him to reflect on mortality and the value of life. Despite the setbacks faced with MoviePass, which he revisited in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation and is motivated to embrace new challenges.