Hamet Watt, co-founder of MoviePass, is moving on from the company’s downfall and is now focused on raising funds for a new venture studio aimed at supporting the development of startups.
Watt has launched Share Ventures, which has already secured nearly $20 million in funding from notable backers including Alphabet and Amazon. The new venture will concentrate on startups within the realms of work innovation and longevity.
Watt believes the current landscape, shaped by advancements in artificial intelligence and rising interest rates, presents a unique opportunity for a “differentiated model” in venture capital. Share Ventures plans to develop its own software and employ complex language models to streamline its operations.
He explained that smaller funds are now sufficient and that it’s easier to identify promising opportunities with less capital. “This allows us to build companies from the ground up while using the latest tools proactively,” he stated.
Watt also emphasized that, while many venture firms are investing in new technologies, they often do not fully integrate and utilize them in their operations. He believes that utilizing innovative data and automation distinctly sets Share Ventures apart.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at just 49 years old. “Losing my mom at a young age forced me to confront my own mortality in a way I hadn’t before,” he reflected.
Despite the challenges faced with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate. He is eager to discover what he has learned and is ready to embrace the risks of launching new ventures.