Hamet Watt, co-founder of MoviePass, is moving forward after the company’s notable downfall and is now focused on raising funds for a new venture studio aimed at supporting startup development.
Watt has been working diligently at Share Ventures, a company that has already attracted nearly $20 million in backing from notable investors, including Alphabet and Amazon. This new venture is concentrating on startups in the fields of future work and longevity.
He believes that the current landscape, influenced by the AI surge and rising interest rates, provides a ripe opportunity for a distinct business model. Share Ventures plans to develop its own software and complex language models to streamline its internal operations.
According to Watt, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach is beneficial for Share Ventures as it builds companies from the ground up, utilizing cutting-edge tools.
Watt observed that many venture firms are investing in new technologies without fully integrating them into their practices. He emphasizes the importance of using innovative data and automation, which he considers unique to Share Ventures.
His personal interest in health and longevity stems from a tragic loss; he lost his mother at the young age of 25, which significantly impacted his perspective on mortality.
Reflecting on his experience with MoviePass, which he detailed in the documentary “MoviePass, MovieCrash,” Watt expressed that the lessons learned from that venture have only fueled his determination to innovate again, saying, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”