Hamet Watt, a co-founder of MoviePass, is putting the past behind him and focusing on a new business venture. He is currently raising funds for Share Ventures, a new studio aimed at developing and financing startups.
Share Ventures has already attracted nearly $20 million in funding, with notable investors including Alphabet and Amazon. The company plans to concentrate on startups centered around the future of work and longevity.
Watt believes the current landscape, shaped by rapid AI advancements and high interest rates, calls for a “differentiated model” in venture capital. As a result, Share Ventures is not only funding startups but also developing proprietary software and complex language models to streamline its internal processes.
He stated, “You don’t need as large of funds, and you can get a signal on an opportunity much earlier with much less capital.” This approach allows them to build companies from the ground up while leveraging cutting-edge technology.
Watt observed that while many venture firms are investing in new technologies, they often do not fully integrate and utilize them in their operations. He emphasized that using innovative data and automation sets Share Ventures apart.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at a young age. “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 remarked.
Watt’s past experience with MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash,” has fueled his determination to continue innovating. He expressed a mindset of learning from failures and having the courage to venture forth, whether it leads to success or another setback.