Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic downfall and is now raising funds for a new venture studio aimed at supporting startups. He has launched Share Ventures, which has already secured nearly $20 million in funding from prominent backers, including Alphabet and Amazon.
Watt’s new venture focuses on innovative startups in the future of work and longevity sectors. He believes the current landscape, influenced by the rise of artificial intelligence and high interest rates, is primed for a unique approach to venture capital. Share Ventures aims to develop its own software and complex language models to streamline internal operations and reduce capital requirements for startup investments.
Watt emphasized that many venture firms are investing in new technologies without fully integrating them into their operations. He believes that utilizing novel data and automation differentiates Share Ventures from its competitors.
His personal journey into health and longevity was propelled by the early loss of his mother at the age of 49, prompting him to reflect on mortality. Despite the challenges faced by MoviePass, which he detailed in the documentary “MoviePass, MovieCrash,” Watt remains determined to pursue innovation, stating his willingness to embrace both potential failure and success in his new endeavors.