Hamet Watt, a co-founder of MoviePass, is moving forward from the company’s dramatic collapse by establishing a new venture studio aimed at developing and funding startups. Watt is now leading Share Ventures, which has recently raised nearly $20 million in funding from investors, including major players like Alphabet and Amazon.
Share Ventures will focus on startups in the future of work and longevity sectors. Watt believes that the recent surge in artificial intelligence and the current economic conditions have created favorable circumstances for a uniquely differentiated venture capital model. He explained that Share Ventures plans to create its own software and complex language models to streamline its internal operations.
Watt shared insight into his investment strategy, saying, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He is aiming to build companies from scratch while utilizing advanced tools.
He emphasized that many venture firms are investing in new technologies without actually implementing them in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
Watt’s personal experiences have influenced his focus on health and longevity. He lost his mother at the young age of 25, a loss that prompted him to contemplate his own mortality and the importance of life-extending innovations.
Reflecting on his past with MoviePass, a topic he touched upon in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate despite previous setbacks. He expressed a willingness to explore new ventures, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”