Hamet Watt, co-founder of MoviePass, is moving beyond the company’s notable downfall to focus on a new venture studio aimed at developing and funding startups. Watt announced that his new company, Share Ventures, has already raised nearly $20 million in funding, with support from major investors including Alphabet and Amazon.
Share Ventures plans to concentrate on startups within the future of work and longevity sectors. Watt believes that the current landscape, shaped by the rise of artificial intelligence and high interest rates, has created an opportunity for a distinctive investment model. He emphasized that Share Ventures will utilize advanced software and complex language models to streamline its operations.
Watt explained that this approach allows for smaller fund sizes and quicker assessments of investment opportunities, making it advantageous for building new companies from the ground up. He noted that while many venture firms are investing in innovative technologies, few are integrating these advancements into their processes.
His personal interest in health and longevity is rooted in the loss of his mother at a young age, which profoundly influenced his perspective on mortality. He stated that this experience has driven him to persist in innovation despite the setbacks faced with MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash.” Watt expressed a desire to learn from past failures and approach new challenges with courage and optimism for success.