Hamet Watt, co-founder of MoviePass, is shifting his focus away from the company’s notable downfall and is actively raising funds for a new venture studio aimed at supporting and financing startups.
Watt, who introduced the groundbreaking MoviePass concept in 2011, which allowed subscribers to watch unlimited movies for a monthly fee, has recently been dedicated to Share Ventures. This new company has already attracted nearly $20 million in investments, with support from major backers including Alphabet and Amazon. Share Ventures is targeting businesses within the realms of future work and longevity.
In light of the current AI surge and elevated interest rates, Watt believes there’s an opportunity to adopt a “differentiated model” in venture capital. He explained that Share Ventures is developing proprietary software and intricate language models to streamline its internal operations, allowing for earlier identification of investment opportunities with significantly lower capital requirements.
Watt noted that while numerous venture firms are pouring resources into innovative technologies, many are not actively implementing these advancements within their own operations. He emphasized that utilizing advanced data and automation sets Share Ventures apart.
The tragic loss of his mother when he was just 25 has fueled Watt’s interest in health and longevity, shaping his perspective on life and mortality. He shared that such experiences compel a deeper reflection on one’s own life and aspirations.
Despite the challenges faced with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains steadfast in his commitment to innovation, ready to take risks and pursue new ventures.