Hamet Watt, the co-founder of MoviePass, is moving forward from the company’s dramatic decline and is now focused on raising capital for a new venture studio aimed at developing and funding startups. Since founding MoviePass in 2011, which offered unlimited access to theaters for a monthly fee, Watt has shifted his focus to Share Ventures.
Share Ventures has already secured nearly $20 million in funding, with key investors including Alphabet and Amazon. The new venture aims to concentrate on startups in the future of work and longevity sectors. Watt believes the current climate, shaped by the rise of artificial intelligence and increasing interest rates, presents an opportunity for a “differentiated model” in venture capital. As part of this approach, Share Ventures is developing its own software and complex language models to streamline its internal processes.
Watt emphasized that smaller funds can still yield significant insights and opportunities earlier with less capital. “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 explained.
He noted that while many venture firms are investing in new technologies, they are not fully integrating and utilizing these innovations in their operations. Watt believes that their unique approach lies in the use of novel data and automation in their processes.
Watt’s interest in health and longevity is deeply personal, stemming from the loss of his mother at a young age. Losing her at just 49 years old prompted him to reflect on life and mortality. He has expressed that his experience with the failure of MoviePass, recently explored in the documentary “MoviePass, MovieCrash,” has only fueled his desire to continue innovating. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he remarked.