Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s downfall to a new venture studio aimed at developing and funding startups. He is now leading Share Ventures, which has attracted nearly $20 million in funding from notable investors such as Alphabet and Amazon.
Watt’s new firm is targeting startups that operate in the future of work and longevity sectors. He believes that the current landscape, influenced by the rise of AI and high interest rates, creates an opportunity for a distinct venture capital approach. Share Ventures is implementing its own software and complex language models to optimize its operations.
Watt explained, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This allows his team to build companies from the ground up utilizing the latest technological advancements.
He noted that while many venture firms are investing in new technologies, they often do not integrate or utilize them effectively in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
Watt’s personal experiences, particularly the loss of his mother at a young age, have fueled his interest in health and longevity. This event prompted a greater awareness of mortality and the importance of innovation in those fields.
Reflecting on his past with MoviePass, which he covered in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to continue exploring new ideas despite previous failures, focusing on the lessons learned and the courage to innovate.