Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic downfall and is now focused on a new venture studio aimed at developing and funding startups. Watt, who introduced the concept of a monthly subscription for unlimited movie access with MoviePass in 2011, has been diligently working on Share Ventures.
The new studio has already secured nearly $20 million in funding, drawing support from major investors including Alphabet and Amazon. Watt indicated that Share Ventures is concentrating on startups related to the future of work and health longevity.
He believes that the current landscape, influenced by the AI surge and rising interest rates, has made the venture capital market ripe for a unique approach. As a result, Share Ventures aims to develop its own software and intricate language models to streamline its operations, allowing for the identification of opportunities with less capital investment.
“There’s no need for large funds, and you can identify opportunities much earlier,” he stated. “This is beneficial for us as we are building companies from ground up with advanced tools.”
Watt noted that while many venture firms are investing in new technologies, few are fully integrating and utilizing these innovations themselves. “Employing unique data and automation in our processes is something we believe sets us apart,” he remarked.
His interest in health and longevity stems from personal loss; Watt lost his mother at the young age of 25, which sparked a deeper reflection on mortality.
Losing his mother at such a formative age has profoundly influenced his perspective, making him more aware of life’s fragility.
Watt also mentioned that his experience with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” has fueled his desire to continue innovating despite past failures. He posed a question of resilience, asking, “What have I learned, and what am I willing to attempt now — whether it leads to failure or success?”