Hamet Watt, co-founder of MoviePass, is embarking on a new venture after the company’s notable downfall. He is working on Share Ventures, which aims to develop and finance startups.
Following Nvidia’s recent earnings report, which suggests a boost in AI spending for major tech companies, Watt has been actively securing nearly $20 million in funding from notable backers including Alphabet and Amazon. Share Ventures is concentrating on investments in the future of work and longevity sectors.
Watt believes the current landscape, influenced by the AI boom and elevated interest rates, presents a ripe opportunity for a differentiated approach in venture capital. He noted that Share Ventures is developing its own software and complex language models to enhance its operations.
He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” emphasizing the advantages this brings to building companies from the ground up using advanced tools.
Watt also highlighted that while many venture firms invest in new technologies, they often fail to actively integrate and utilize them.
His personal experience with loss—having lost his mother at the age of 25—has fueled his interest in health and longevity. “When you lose your mom at a young age, it forces you to think about your own mortality,” he reflected.
Watt’s experience with MoviePass, which he recently addressed in a documentary, has taught him valuable lessons about resilience and innovation. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he said.