Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new venture. He is raising funds for a startup studio called Share Ventures, which aims to develop and support emerging companies.
The new firm has already attracted nearly $20 million in investment, with notable backers like Alphabet and Amazon. Watt shared that Share Ventures will focus on sectors related to the future of work and longevity.
He believes that the current landscape, influenced by the rise of artificial intelligence and elevated interest rates, presents an opportunity for a unique venture capital model. According to Watt, Share Ventures is set to develop its own software and utilize advanced language models to streamline its operations.
Watt remarked that the evolving market allows for smaller investment amounts and earlier detection of potential opportunities. This shift is beneficial for building new companies from the ground up with cutting-edge tools.
He also noted that while many venture firms are investing in new technologies, they often do not fully utilize them in their operations. Watt emphasized that using innovative data and automation is a distinctive aspect of Share Ventures.
His motivation for pursuing projects in health and longevity stems from personal loss; Watt lost his mother at a young age, which profoundly impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass, which is explored in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to leverage his past experiences as he continues to innovate, regardless of the potential for failure.