Hamet Watt, co-founder of MoviePass, is moving forward from the company’s significant downfall and is launching a new venture studio aimed at supporting and investing in startups. Watt, who helped create MoviePass in 2011, has recently established Share Ventures, which has raised nearly $20 million in funding from investors including Alphabet and Amazon.
The focus of Share Ventures is on startups involved in the future of work and longevity industries. Watt believes that the current climate of artificial intelligence advancements and high interest rates has created an opportunity for a new and distinct venture capital model. As part of this approach, Share Ventures is developing its software alongside sophisticated language models to streamline its internal operations.
Watt emphasized the advantages of having smaller capital requirements for funding, allowing for earlier identification of opportunities. He sees this as an opportunity to build new companies employing the latest technologies. He noted that many venture firms are investing in new technologies but are not fully embracing and utilizing them.
His interest in health and longevity was sparked by the early loss of his mother at the age of 25, which prompted him to reflect on mortality in a profound way.
Despite the failure of MoviePass, which he analyzed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate. He is motivated by the lessons learned from his past experiences, viewing the potential to try new ventures—whether they lead to failure or success—as a key driver for his future endeavors.