Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable collapse to establish a new venture studio aimed at supporting and financing startups. He has been actively working on this new initiative, called Share Ventures, which has already raised nearly $20 million, with prominent investors including Alphabet and Amazon.
Watt shared that the focus of Share Ventures will be on innovative companies related to the future of work and longevity. He believes that the current landscape, influenced by the rise of AI and high interest rates, has created an opportunity for a different kind of venture capital approach. The studio intends to develop proprietary software and advanced language models to streamline its operations, allowing it to gauge opportunities with less capital.
He remarked on the advantages of this approach, stating, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt emphasized that while many venture firms are investing in new technologies, they often do not fully integrate or utilize them in their processes. He noted, “Using novel data and automation in our process is something we think is uniquely special to us.”
His interest in health and longevity was shaped by personal experience, particularly the loss of his mother at age 25, which prompted him to reflect on mortality. He expressed that this loss has profoundly influenced his perspective on life and innovation.
Watt’s previous experience with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” serves as a motivation for his new endeavors, inspiring him to explore new ideas and embrace the possibility of both failure and success in his future projects.