The co-founder of MoviePass, Hamet Watt, is embarking on a new journey after the company’s well-publicized demise. He is currently focused on his new venture studio, Share Ventures, which aims to develop and fund startups.
Watt, who co-founded MoviePass in 2011, introduced a subscription model allowing moviegoers unlimited access to theaters for a monthly fee. Now, he has secured nearly $20 million in funding from notable investors, including Alphabet and Amazon. The new company is concentrating on startups within the “future of work” and longevity sectors.
In an interview with Business Insider, Watt expressed his belief that the recent surge in artificial intelligence and prevailing high interest rates have opened the door for a venture capital approach that is more innovative and efficient. Share Ventures is not only seeking to fund but also to create its own proprietary software alongside complex language models to streamline internal operations.
Watt emphasized that with the right tools, there is less need for large capital and opportunities can be identified earlier. He noted, “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 pointed out that many venture firms are investing in emerging technologies without fully integrating or utilizing them in their processes. Watt believes that their approach—leveraging novel data and automation—is a distinct advantage.
His personal experiences have also shaped his interests; he became passionate about health and longevity after losing his mother at a young age. This life event led him to reconsider his own mortality and the importance of innovation in these fields.
Reflecting on his past with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt remains undeterred, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”