Hamet Watt, co-founder of MoviePass, is transitioning from the company’s dramatic downfall to launch a new venture studio aimed at developing and funding startups.
Watt, who introduced the concept of a monthly subscription for unrestricted access to movie theaters in 2011, has been actively working on Share Ventures, which has secured nearly $20 million in funding with support from major investors including Alphabet and Amazon. The new venture is focusing on innovative startups in the areas of future work and longevity.
Watt believes the current landscape, driven by the AI boom and rising interest rates, presents a favorable environment for a unique investment model. Share Ventures is developing its own software and advanced language models to automate internal processes, enabling quicker identification of promising opportunities with less capital.
He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” Watt emphasized that this approach is advantageous for building companies from the ground up using cutting-edge tools.
Unlike many venture firms that invest in emerging technologies without integrating them into their operations, Watt asserts that Share Ventures will leverage novel data and automation in its investment strategy.
His interest in health and longevity stems from a personal loss; he lost his mother at the age of 25, which significantly influenced his perspective on life and mortality.
Watt’s experiences with the failure of MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” have fueled his determination to continue innovating. He reflects on the lessons learned and the courage to pursue new ventures, acknowledging the possibility of both failure and success.