Hamet Watt, the co-founder of MoviePass, is moving on from the company’s dramatic downfall to focus on a new venture studio aimed at developing and funding startups. Watt, who established MoviePass in 2011 with the concept of offering unlimited theater access for a monthly fee, has since launched Share Ventures.
Share Ventures has already raised nearly $20 million in funding, attracting prominent investors including Alphabet and Amazon. The firm is targeting the future of work and longevity sectors for its startup investments.
Watt believes that the current climate of high interest rates and the rise of artificial intelligence has created a favorable environment for a distinctive venture capital model. To that end, Share Ventures is developing its own software and employing advanced language models to streamline its operations.
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 using cutting-edge tools while building companies from the ground up.
Watt noted that many venture firms are investing in new technologies but fail to integrate and utilize them effectively within their processes. He believes that incorporating innovative data and automation sets Share Ventures apart from its competitors.
Watt’s interest in health and longevity was ignited by the loss of his mother at the age of 25, an experience that profoundly affected his perspective on life. He remarked, “When you lose your mom at a young age, it forces you to think about your own mortality, in a way that I don’t know that I was conscious of at the time.”
His previous experience with MoviePass, which he explores in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate further. Watt is determined to apply the lessons learned from his past and pursue new opportunities, regardless of the possibility of failure.