The co-founder of MoviePass, Hamet Watt, is embarking on a new venture following the company’s notable demise. He is raising funds for Share Ventures, a new studio designed to develop and finance startups.
Share Ventures has already secured nearly $20 million in funding with notable investors such as Alphabet and Amazon. Watt has indicated that the company will focus on startups centered around the future of work and longevity.
He believes that the current climate, marked by the AI surge and high interest rates, presents an opportunity for a “differentiated model” in venture capital. Share Ventures plans to create its own software and complex language models to streamline its internal operations.
According to Watt, the advantages of this approach mean that significant capital is not always necessary to identify promising opportunities early on. “For us, that’s a great thing because we’re building companies from scratch and utilizing the most advanced tools,” he stated.
Watt pointed out that many venture firms are investing in new technologies without actively implementing them in their processes. He emphasized that integrating novel data and automation is what sets Share Ventures apart.
Reflecting on his past, Watt developed a keen interest in health and longevity after losing his mother at the young age of 25, which profoundly impacted his perspective on mortality.
The experience of MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he asked.