Hamet Watt, the co-founder of MoviePass, is moving past the company’s infamous decline and is now focused on raising capital for his new venture studio aimed at developing and funding startups. Share Ventures has reportedly secured nearly $20 million in funding, with prominent investors including Alphabet and Amazon. Watt mentioned that the firm will concentrate on businesses related to the future of work and longevity.
He believes that the current landscape, influenced by the AI surge and rising interest rates, presents an opportunity for a uniquely differentiated venture capital model. As part of Share Ventures, Watt plans to create proprietary software and complex language models to streamline internal operations.
Watt noted that smaller funding amounts are sufficient to gauge opportunities earlier, allowing them to build companies with advanced tools from the beginning. He expressed that while many venture firms are investing in new technologies, they often do not integrate and utilize them effectively.
His personal experiences have also shaped his focus; Watt became interested in health and longevity after losing his mother at a young age. The loss prompted him to reflect on mortality, influencing his drive to innovate despite past failures with MoviePass. Watt is now determined to apply his lessons learned to new ventures, embracing the possibility of both success and failure.