The co-founder of MoviePass, Hamet Watt, is moving on from the company’s dramatic downfall and is currently raising funds for a new venture studio aimed at supporting startups.
Watt co-founded MoviePass in 2011, introducing a subscription model that allowed moviegoers to watch unlimited films in theaters for a monthly fee. He has now launched Share Ventures, which has already secured nearly $20 million in funding from prominent investors, including Alphabet and Amazon. The focus of Share Ventures will be on developing startups in the areas of future work and longevity.
Watt believes that the combination of the AI boom and high interest rates has created a favorable environment for a unique venture capital model. This has led Share Ventures to develop its own software and complex language models to streamline its internal operations. He noted that smaller funds can capitalize on opportunities with less capital and earlier than traditional methods.
“Many venture firms are putting money into new technologies without truly integrating them into their processes,” Watt explained. “Our approach leverages novel data and automation, which we believe sets us apart.”
His interest in health and longevity stems from a personal tragedy; Watt lost his mother when he was just 25, and she was only 49 years old at the time of her passing. This experience has deeply influenced his outlook on life and his professional pursuits.
Reflecting on his experiences, Watt stated, “After going through the failure of MoviePass, I’m motivated to continue innovating. It’s about asking myself what I’ve learned and having the courage to attempt new ventures.”