Hamet Watt, co-founder of MoviePass, is moving on from the company’s dramatic downfall and is now focusing on a new venture studio aimed at developing and funding startups.
He has established Share Ventures, which has already secured nearly $20 million in funding from notable backers such as Alphabet and Amazon. The company will concentrate on startups involved in future work and longevity.
Watt believes the current landscape, characterized by the AI boom and rising interest rates, presents a unique opportunity for a distinct venture capital model. Share Ventures plans to create its own software along with complex language models to enhance efficiency and automate internal processes.
He emphasized that smaller funding amounts can yield quicker insights into investment opportunities, which benefits their approach of building companies from the ground up using advanced tools.
Watt noted that while many venture firms are investing in new technologies, they often do not fully utilize them in their operations. He asserts that integrating novel data and automation into their processes sets Share Ventures apart.
Watt’s interest in health and longevity was sparked by a personal tragedy; he lost his mother at the age of 25, when she was only 49. This experience profoundly shaped his perspective on life and mortality.
Reflecting on his time with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed that his past failure has fueled his determination to innovate further. He is now ready to take risks, with the understanding that both success and failure are possibilities.