Hamet Watt, the co-founder of MoviePass, is moving forward from the company’s dramatic downfall by launching a new venture studio aimed at developing and funding startups. Watt has established Share Ventures, which has already raised nearly $20 million in funding from notable investors, including Alphabet and Amazon.
The focus of Share Ventures will be on startups related to the future of work and longevity. Watt believes that the current landscape of venture capital is conducive to a “differentiated model,” particularly due to the rise of AI and rising interest rates. He aims to create proprietary software and complex language models to streamline internal operations.
Watt explained that smaller funds can identify opportunities more swiftly, allowing for innovation from the ground up with advanced tools. He noted that while many venture firms are investing in new technologies, few are integrating and utilizing them in their processes.
His passion for health and longevity stems from a personal experience; he lost his mother at the young age of 25, which prompted him to reflect on his mortality. As he moves past his experiences with MoviePass and discusses it in the documentary “MoviePass, MovieCrash,” he remains motivated to innovate, embracing the possibility of both failure and success in his new endeavors.