Hamet Watt, co-founder of MoviePass, is shifting focus from the company’s tumultuous decline to a new venture studio aimed at supporting startups. Watt has established Share Ventures, which has attracted nearly $20 million in funding from prominent investors, including Alphabet and Amazon. The studio will concentrate on innovative companies in the work future and longevity sectors.
In discussions with Business Insider, Watt expressed his belief that the current landscape, influenced by the AI surge and elevated interest rates, presents an opportunity for a distinct investment model. To optimize operations, Share Ventures plans to develop proprietary software and complex language models.
Watt remarked, “The need for large funds is diminished, allowing earlier signals on opportunities with less capital. This is beneficial for us as we focus on building companies from the ground up using advanced tools.”
He also pointed out a gap in how many venture firms are leveraging new technologies, stating, “While they invest in these innovations, they aren’t necessarily integrating and utilizing them effectively.”
Personal experiences have shaped Watt’s interest in health and longevity, particularly the loss of his mother at a young age, prompting a deeper reflection on mortality.
Watt’s experience with MoviePass, which he recently detailed in the documentary “MoviePass, MovieCrash,” has only fueled his determination to innovate further, embracing the possibility of both success and failure in future endeavors.