Hamet Watt, the co-founder of MoviePass, is embarking on a new journey after the company’s notable downfall and is in the process of raising funds for Share Ventures, a new venture studio aimed at supporting and developing startups.
Watt, in an interview with Business Insider, revealed that he has been busy with Share Ventures, which has attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon. The focus of the new venture is on startups within the future of work and longevity sectors.
Watt believes that the recent developments in AI and the current high interest rates have created favorable conditions for a unique venture capital model. In response, Share Ventures is working on developing its own software and sophisticated language models to streamline its internal processes.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach aligns well with Share Ventures’ mission of building companies from the ground up while utilizing the latest tools proactively.
Watt expressed that many venture capital firms are investing in innovative technologies but are not fully integrating these advancements into their operations. He highlighted, “Using novel data and automation in our process is something we think is uniquely special to us.”
His interest in health and longevity stems from a personal loss; he lost his mother at the age of 25 when she was only 49. This experience has profoundly impacted his perspective on life and mortality.
Watt’s previous experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate. He reflects on the lessons learned and is motivated to venture out again, acknowledging the possibility of both failure and success.