Hamet Watt, co-founder of the failed subscription service MoviePass, is moving on and launching a new venture studio called Share Ventures. This new initiative aims to develop and fund startups, focusing on the future of work and longevity sectors.
Watt revealed that Share Ventures has already raised nearly $20 million from investors, including tech giants Alphabet and Amazon. He believes that the current landscape, influenced by the rise of artificial intelligence and elevated interest rates, presents an opportunity for a unique venture capital model. Share Ventures plans to create its own software and utilize advanced language models to streamline internal operations.
Watt highlighted the advantages of this approach, stating that smaller investments can yield insights into potential opportunities earlier than traditional funding methods. His vision is to build companies from the ground up using the latest technologies.
He also emphasized the importance of integrating new technologies into their processes, stating that while many venture firms are investing in innovative solutions, few are actively implementing them in their operations.
Watt’s personal experiences have shaped his interests, particularly in health and longevity, a passion that emerged after the loss of his mother at the age of 25. This life event prompted him to reflect on mortality and inspire him in his entrepreneurial endeavors.
Despite the challenges faced by MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate and take risks in his new venture.