Hamet Watt, co-founder of the failed subscription service MoviePass, is moving forward by establishing a new venture studio aimed at supporting startups. Watt, who launched MoviePass in 2011 with the concept of unlimited movie access for a monthly fee, has been working on his new company, Share Ventures.
Share Ventures has recently garnered nearly $20 million in funding, with investments coming from major players like Alphabet and Amazon. The venture will concentrate on startups within the future of work and longevity sectors.
Watt believes that the current landscape, characterized by an AI revolution and high interest rates, creates an opportunity for a unique investment model. Share Ventures plans to develop its own software and intricate language models to streamline its internal operations, allowing for earlier identification of investment opportunities with less capital.
Watt emphasized that while many venture firms are financing new technologies, they often do not utilize them effectively within their operations. He expressed confidence in leveraging innovative data and automation strategies as a distinguishing feature of Share Ventures.
His personal experience, particularly the loss of his mother at a young age, has driven Watt’s interest in health and longevity. He noted that such experiences deepen one’s awareness of mortality and the urgency to innovate.
Reflecting on his journey with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt reaffirmed his commitment to seek new opportunities, willing to embrace both the potential for failure and success.