The co-founder of MoviePass, Hamet Watt, is stepping away from the company’s dramatic downfall to focus on a new venture studio aimed at developing and funding startups. In an interview with Business Insider, Watt shared that he has been actively working on Share Ventures, which has already garnered nearly $20 million in funding, supported by notable investors including Alphabet and Amazon.
Share Ventures aims to concentrate on startups related to the future of work and longevity. Watt believes that the current landscape, marked by the rise of artificial intelligence and high interest rates, presents an opportunity for a unique investment model. He emphasized that with the right technology, it is possible to identify promising opportunities with less capital compared to traditional ventures.
Watt noted that many venture firms are investing in new technologies without fully incorporating them into their processes. He believes that leveraging innovative data and automation differentiates Share Ventures from others in the industry.
Watt’s personal experiences, particularly the loss of his mother when he was just 25, fueled his interest in health and longevity. He stated that such experiences prompt a deeper awareness of mortality.
Reflecting on his experiences with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a determination to continue innovating despite past failures. He emphasized the importance of learning and willingness to embrace new challenges.