Hamet Watt, the co-founder of MoviePass, is moving forward from the company’s notable downfall by launching a new venture studio aimed at developing and funding startups. His new endeavor, Share Ventures, has successfully raised nearly $20 million, attracting investments from high-profile backers including Alphabet and Amazon.
Watt shared with Business Insider that Share Ventures will focus on startups in the evolving future of work and longevity sectors. He believes the current landscape, influenced by the AI boom and rising interest rates, provides a ripe opportunity for a distinct venture capital model. This approach will see Share Ventures not only backing startups but also creating proprietary software and leveraging advanced language models to streamline internal processes.
He noted, “With less capital required to gain insights into emerging opportunities, we can construct companies from the ground up while utilizing state-of-the-art tools efficiently.”
Watt criticized many venture firms for investing in new technologies without actively implementing them in their operations. He emphasized that utilizing innovative data and automation is a key differentiator for Share Ventures.
His interest in health and longevity stems from personal experiences; having lost his mother at the young age of 25, this has deeply influenced his perspective on mortality and the importance of health advancements.
Reflecting on his previous experience with MoviePass, which he discusses in the documentary “MoviePass, MovieCrash,” Watt remains undeterred, stating that he is excited to explore new ideas, acknowledging the potential for both success and failure.
This venture signifies a positive shift where past failures can lead to innovative ideas and robust opportunities in emerging sectors. Watt’s journey highlights resilience and the importance of adapting to new models for success in the fast-evolving tech landscape.