Hamet Watt, co-founder of MoviePass, has transitioned from the company’s notable downfall to launch a new venture studio aimed at developing and funding startups. Watt introduced MoviePass in 2011, promoting a subscription model that allowed movie enthusiasts unlimited access to theaters for a monthly fee.
His new company, Share Ventures, has successfully raised nearly $20 million in funding from investors, including tech giants Alphabet and Amazon. Share Ventures will focus on startups in the fields of future work and longevity.
Watt believes that the current landscape, shaped by the rise of AI and high-interest rates, presents an opportunity for a unique business model. He emphasized that by developing their own software solutions and utilizing advanced language models for internal operations, Share Ventures can evaluate opportunities more efficiently with lower capital requirements.
Watt noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” highlighting their approach to building companies from the ground up with cutting-edge tools.
He expressed his belief that while many venture firms are investing in new technologies, they often fail to integrate these innovations into their own operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
Watt’s personal experiences, particularly the loss of his mother at a young age, have driven his interest in health and longevity. Reflecting on this loss, he mentioned, “When you lose your mom at a young age, it forces you to think about your own mortality.”
Despite the failure of MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains undeterred and eager to innovate. He questioned, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”