Hamet Watt, co-founder of MoviePass, is moving forward from the company’s tumultuous past to establish Share Ventures, a new venture studio aimed at supporting and funding startups.
Watt, who initially launched MoviePass in 2011 with a revolutionary subscription model for moviegoers, disclosed to Business Insider that he has been focused on securing investment for Share Ventures, which has already raised nearly $20 million from prominent backers such as Alphabet and Amazon. The new venture intends to concentrate on startups in the “future of work” and longevity sectors.
Watt noted that the current landscape, shaped by the AI boom and high interest rates, has created an opportune environment for a unique investment model. Share Ventures plans to integrate its software and advanced language models to streamline its internal processes, allowing for earlier identification of investment opportunities with smaller amounts of capital.
He emphasized that while many venture firms are funding emerging technologies, they often do not utilize these innovations themselves. Watt expressed pride in using advanced data and automation in Share Ventures, considering it a distinctive aspect of the company.
Watt’s passion for health and longevity was ignited by a personal tragedy; he lost his mother at the age of 25. This experience prompted deep reflections on mortality.
Despite the setback of MoviePass, which Watt recently addressed in the documentary “MoviePass, MovieCrash,” he remains motivated to innovate in the startup space. He reflected on the lessons learned from his past failures, embracing the possibility of further experimentation and success in his new endeavors.