Hamet Watt, co-founder of MoviePass, is moving on from the company’s turbulent past and is now focused on raising funds for a new venture studio aimed at developing and supporting startups.
In an interview with Business Insider, Watt shared that he has been diligently working on Share Ventures, which has already secured nearly $20 million in funding from investors, including Alphabet and Amazon. The new venture will concentrate on emerging startups within the future of work and longevity sectors.
Watt believes that the current environment, characterized by the AI boom and elevated interest rates, presents a prime opportunity for a differentiated investment model. Share Ventures plans to develop its own software and complex language models to streamline internal operations.
He noted that “you don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach allows them to build companies from the ground up while leveraging advanced tools proactively.
Watt also commented on the challenges faced by traditional venture firms, stating that many are investing in new technologies without fully integrating or utilizing them in their operations. He emphasized that their use of innovative data and automation in their processes sets them apart.
His interest in health and longevity was profoundly shaped by personal loss, as he lost his mother at a young age. This experience prompted deep reflection on mortality and the importance of living a longer, healthier life.
Despite the setbacks he faced with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate, expressing a willingness to take risks in pursuit of success.