Hamet Watt, co-founder of MoviePass, is leaving behind the company’s tumultuous history to focus on a new venture studio aimed at developing and funding startups.
Watt, who introduced the concept of a subscription service for unlimited movie theater access in 2011, has been actively working at Share Ventures. The new company has already attracted nearly $20 million in funding, with notable investors including Alphabet and Amazon. Share Ventures is concentrating on startups in the realms of future work and longevity.
Watt believes that the current landscape of venture capital, influenced by the boom in artificial intelligence and rising interest rates, creates an opportunity for a distinct operational model. As a result, Share Ventures is developing its own software and utilizing advanced language models to streamline its internal processes.
He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” emphasizing the benefits of their proactive approach in building companies from the ground up with advanced tools.
Watt noted that many venture firms are investing in new technologies but are not fully integrating or utilizing them in their processes. He highlighted the uniqueness of Share Ventures’ strategy that employs innovative data and automation.
His interest in health and longevity is deeply personal; he lost his mother at the age of 25 when she was only 49. Reflecting on this loss, he mentioned that it prompted him to confront his own mortality in a way he was not previously aware of.
Despite his experience with the challenges faced at MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt remains focused on innovation. He expressed a determination to continue exploring new ventures, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”