Hamet Watt, co-founder of the now-defunct MoviePass, is pivoting away from the company’s tumultuous history to focus on a new venture studio aimed at developing and financing startups. Watt has launched Share Ventures, which has already raised nearly $20 million from investors, including prominent backers like Alphabet and Amazon.
Watt envisions Share Ventures concentrating on startups within the realms of future work and longevity. He believes that the current landscape of artificial intelligence and elevated interest rates has created an environment conducive to a fresh approach in venture capital. He states that Share Ventures is crafting its own software and complex language models to streamline internal operations, creating a distinct model that can identify promising opportunities with lesser financial input.
Watt remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” emphasizing the advantages this approach offers for building businesses from the ground up with advanced tools.
He also pointed out that while many venture firms invest in emerging technologies, few fully integrate and utilize them in their operations. Watt’s unique process employs novel data and automation, which he believes sets Share Ventures apart.
His personal experience of losing his mother at a young age has shaped his interest in health and longevity. “When you lose your mom at a young age, it forces you to think about your own mortality,” he reflected.
Despite the setbacks faced by MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains driven to innovate. He is ready to embrace the challenges ahead with a mindset geared toward learning and potential success.