Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s dramatic decline. He is now raising funds for Share Ventures, a new venture studio aimed at developing and supporting startups.
The company has successfully secured nearly $20 million in funding, with notable investors including Alphabet and Amazon. Watt shared that Share Ventures will concentrate on startups within the realms of future work and longevity.
Watt believes that the current climate, influenced by the rise of AI and high interest rates, presents an opportunity for a distinct venture capital model. Share Ventures plans to create proprietary software and leverage advanced language models to streamline its operations, which he says allows for earlier identification of promising opportunities with reduced capital.
He pointed out that while many venture firms are investing in new technologies, they do not fully utilize them in their operations. He emphasized that incorporating innovative data and automation into their processes sets Share Ventures apart.
Watt’s interest in health and longevity is deeply personal; he lost his mother at the young age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated by the lessons learned. He is now eager to pursue new ventures, understanding that failure is a possibility but success is also within reach.