Hamet Watt, co-founder of MoviePass, is transitioning from the company’s infamous decline to launch a new venture studio designed to support startup development and funding. Watt, who originated the concept of a subscription service for unlimited movie access in 2011, has been actively working on Share Ventures.
The new firm has raised nearly $20 million, attracting investments from notable backers such as Alphabet and Amazon. Share Ventures aims to concentrate on startups that focus on future work environments and longevity.
Watt believes that the current surge in artificial intelligence and high interest rates creates an opportunity for a unique investment model, prompting Share Ventures to develop its own software and complex language models to enhance its internal processes. He emphasized that access to smaller funds allows for early identification of promising opportunities.
Watt pointed out that while many venture firms are pouring money into new technologies, they often fail to fully utilize and embody these innovations. His approach incorporates novel data and automation, setting Share Ventures apart in the competitive landscape.
His interest in health and longevity was sparked by a personal loss; he lost his mother at the age of 25, an event that profoundly influenced his perspective on mortality. Reflecting on his past experiences, including the challenges faced with MoviePass, Watt is motivated to innovate once more, embracing both the possibility of failure and the potential for success in his new endeavors.