Hamet Watt, one of the co-founders of MoviePass, is moving forward from the company’s decline by launching a new venture studio aimed at developing and funding startups. Watt co-founded MoviePass in 2011, introducing a subscription model that allowed moviegoers unlimited access to theaters for a monthly fee. Now, he is focusing on a venture called Share Ventures, which has garnered nearly $20 million in funding from investors, including Alphabet and Amazon.
Watt is directing Share Ventures toward startups that concentrate on the future of work and longevity. He believes the current landscape of venture capital, influenced by the rise of artificial intelligence and higher interest rates, is primed for a “differentiated model.” This is why Share Ventures is not only developing its own software but also employing complex language models to streamline its internal operations.
He explained that with this innovative approach, startups do not require extensive funding, and opportunities can be identified earlier with reduced capital investment. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively,” he mentioned.
Watt highlighted that although many venture firms are investing in new technologies, they often fail to incorporate these innovations into their own processes. He believes that utilizing novel data and automation sets Share Ventures apart from its competitors.
His interest in health and longevity is deeply personal, stemming from the loss of his mother when he was just 25, which prompted him to reflect on his own life and mortality. Despite the setbacks he faced with MoviePass, which he recently analyzed in the documentary “MoviePass, MovieCrash,” Watt is driven to continue innovating. He reflects on his journey, questioning, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”