Hamet Watt, the co-founder of MoviePass, is transitioning from the company’s tumultuous history to focus on a new venture studio aimed at developing and funding startups. Watt has launched Share Ventures, which has already secured nearly $20 million in backing from investors, including tech giants Alphabet and Amazon.
In an interview, Watt explained that Share Ventures will concentrate on startups in the areas of future work and longevity. He believes the current environment, characterized by the rise of artificial intelligence and high interest rates, presents an opportunity for a unique investment model. This approach involves employing advanced software and complex language models to enhance operations within the firm.
Watt emphasized that smaller fund sizes allow for quicker identification of opportunities without needing extensive capital, highlighting the advantage for building new companies from the ground up while leveraging cutting-edge tools.
He noted that many venture firms invest in innovative technologies but often do not fully utilize them in their operations. In contrast, Share Ventures aims to incorporate novel data and automation into their investment processes.
Watt’s passion for health and longevity was inspired by personal loss, having lost his mother at the young age of 25, which prompted deep reflections on mortality.
Reflecting on his experiences with MoviePass, which he discussed in the recent documentary “MoviePass: MovieCrash,” Watt stated that his previous failures drive him to continue innovating, regardless of potential setbacks.