Hamet Watt, co-founder of MoviePass, is moving beyond the company’s dramatic collapse to raise funds for a new venture studio aimed at developing and financing startups.
Watt has created Share Ventures, which has already secured nearly $20 million in funding from notable backers including Alphabet and Amazon. The venture will concentrate on startups in the areas of future work and longevity.
According to Watt, the current landscape of venture capital, influenced by the AI surge and high interest rates, is conducive to a differentiated model. Share Ventures plans to develop its own software and complex language models to streamline internal processes.
He emphasized the advantage of needing smaller investment amounts and the ability to identify promising opportunities with less capital. Watt mentioned that this allows his team to build companies from the ground up while utilizing cutting-edge tools effectively.
Watt also pointed out that while many venture firms are investing in new technologies, they are not fully integrating and leveraging these innovations. He believes that employing novel data and automation in their processes sets Share Ventures apart.
His interest in health and longevity stems from personal loss; he lost his mother at the age of 25, prompting him to consider his own life span and the importance of this sector.
Reflecting on his experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt sees failure as a stepping stone for further innovation. He is motivated by the lessons learned and is eager to take on new challenges, regardless of the potential for failure.