Hamet Watt, co-founder of MoviePass, is moving beyond the company’s well-documented failure to launch a new venture studio aimed at developing and funding startups. Watt is actively involved with Share Ventures, which has already raised nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Watt explained that the focus of Share Ventures will be on innovations within the future of work and health longevity sectors. He believes that the current landscape of venture capital, influenced by the rise of artificial intelligence and rising interest rates, has created an environment ripe for a unique investment model. As part of this approach, Share Ventures plans to develop its own software and sophisticated language models to streamline its operations.
“You don’t need as large of funds, and you can identify opportunities much earlier with less capital,” Watt stated. He noted that this strategy aligns well with the company’s mission to build startups from the ground up while utilizing the most advanced technological tools available.
Watt also observed that many venture firms may be investing in emerging technologies but are not fully integrating these tools into their own practices. “Using novel data and automation in our process is something we think is uniquely special to us,” he remarked.
His interest in health and longevity was sparked by personal tragedy; Watt lost his mother at the young age of 25, which profoundly impacted his perspective on life and mortality. “When you lose your mom at a young age, it forces you to think about your own mortality in a way that I wasn’t fully aware of at the time,” he commented.
Despite the challenges he faced with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation. He expressed a willingness to take risks in pursuit of success. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he asked.