Hamet Watt, co-founder of MoviePass, is moving forward from the company’s dramatic downfall by launching a new venture studio aimed at developing and funding startups.
Watt has been working on Share Ventures, which has already secured nearly $20 million in funding from notable investors including Alphabet and Amazon. The new venture will concentrate on startups focusing on the future of work and longevity.
He believes that the current landscape, influenced by the AI boom and high interest rates, makes it an ideal time for a differentiated approach in venture capital. Share Ventures plans to create its own software and employ complex language models to streamline its internal processes.
“You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt explained. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt pointed out that while many venture firms are investing in new technologies, they often do not utilize them effectively. He emphasized that their approach, which incorporates novel data and automation into their processes, sets them apart.
His passion for health and longevity was sparked by the loss of his mother at a young age, which made him reflect on mortality. “When you lose your mom at a young age, it forces you to think about your own mortality, in a way that I don’t know that I was conscious of at the time,” he shared.
Watt’s experience with the failure of MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” has motivated him to continue innovating despite the risks. He is driven by the question of what he can learn from past experiences and his willingness to embrace new challenges.