Hamet Watt, co-founder of MoviePass, is moving beyond the company’s dramatic decline by establishing a new venture studio aimed at developing and financing startups. Watt has been actively working at Share Ventures, which has successfully raised nearly $20 million in funding from prominent backers, including Alphabet and Amazon.
The new venture will focus on startups within the domains of future work and longevity. Watt believes that the current landscape, characterized by an AI surge and high interest rates, creates a favorable environment for a “differentiated model” in venture capital. Share Ventures plans to create its own software and complex language models to streamline internal processes.
Watt explained that smaller amounts of funding can lead to earlier signals about investment opportunities, which is advantageous for building companies from the ground up with advanced tools. He noted that while many venture firms are investing in new technologies, few are fully integrating and utilizing them in their operations.
His interest in health and longevity was sparked by the early loss of his mother at the age of 25, prompting him to reflect on mortality in a profound way. Despite the challenges faced during the MoviePass venture, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation and the pursuit of new opportunities, whether they lead to success or failure.