Hamet Watt, co-founder of MoviePass, is shifting focus from the company’s dramatic decline to launch a new venture studio aimed at developing and funding startups. Watt has been actively working on Share Ventures, which has attracted nearly $20 million in investment from notable backers including Alphabet and Amazon.
The new venture is concentrating on startups within the future of work and longevity sectors. Watt believes that the current environment, marked by an AI boom and high interest rates, presents an opportunity for a unique venture capital model. He stated that Share Ventures will create its own software and utilize advanced language models to streamline its internal operations.
Watt explained that startups can now operate with less capital while still identifying promising opportunities earlier in the process. He emphasized that the firm is dedicated to leveraging innovative data and automation in ways that set it apart from other venture firms that may not fully incorporate these technologies.
His personal experiences have driven Watt’s interest in health and longevity; he was only 25 when he lost his mother at the age of 49, an event that profoundly impacted his perspective on mortality.
Despite the setbacks faced with MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate in the startup landscape, motivated by the lessons learned from his past experiences and a willingness to embrace both failure and success in his future endeavors.