Hamet Watt, co-founder of MoviePass, is moving beyond the company’s notable decline by launching a new venture studio aimed at supporting and funding startups.
Share Ventures, Watt’s new company, has already secured nearly $20 million in funding from prominent investors, including Alphabet and Amazon. Watt revealed that the focus of Share Ventures will be on startups that innovate in the fields of future work and longevity.
Watt believes the current landscape of venture capital, influenced by the rise of AI and higher interest rates, is ripe for a fresh approach. According to him, Share Ventures is developing its own software and advanced language models to enhance its internal operations, allowing for quicker assessments of potential opportunities with less capital.
He commented, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and leveraging the most advanced tools proactively.”
Watt also noted that many venture firms are investing heavily in new technologies without fully integrating and utilizing them in their own processes. He emphasized that using innovative data and automation distinguishes Share Ventures from its competitors.
His interest in health and longevity was sparked by the loss of his mother when he was just 25 years old, which prompted deep reflections on mortality.
Watt’s past experiences with MoviePass, recently explored in the documentary “MoviePass, MovieCrash,” have only fueled his determination to continue innovating. He expressed a willingness to embrace risks, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”