Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic decline and is now focused on raising funds for a new venture studio aimed at supporting startups. Watt shared with Business Insider that he is actively working on Share Ventures, which has successfully secured nearly $20 million in funding, backed by major players like Alphabet and Amazon.
The venture is concentrating on areas related to the future of work and longevity. Watt believes that the current AI boom and high interest rates are creating opportunities in venture capital for a novel approach, which is why Share Ventures is developing its own software and advanced language models to enhance its operations.
According to Watt, the new model allows for smaller funding requirements and quicker insights into potential opportunities. He expressed that this is beneficial for building companies from the ground up, utilizing the latest tools proactively.
Watt pointed out that while many venture firms are investing in emerging technologies, few are fully integrating and leveraging these advancements in their processes. He emphasized the importance of using innovative data and automation as a distinct advantage for his venture.
His personal experience has also shaped his interest in health and longevity. Watt lost his mother at the age of 25, prompting him to reflect on mortality and health in new ways. He mentioned that this loss has driven him to continue pursuing innovation and explore what he can learn from past experiences, including the setbacks with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash.”