Hamet Watt, co-founder of MoviePass, is moving forward from the company’s dramatic downfall by launching a new venture studio aimed at developing and funding startups. Watt, who initiated MoviePass in 2011 with a novel subscription model offering unlimited movie access, is now focused on his new enterprise, Share Ventures.
Share Ventures has raised nearly $20 million, with investments from notable backers including Alphabet and Amazon. The firm plans to concentrate on startups involved in future work and longevity sectors. Watt believes the current landscape, shaped by advancements in artificial intelligence and elevated interest rates, creates favorable conditions for a distinctive venture capital approach. He explained that Share Ventures intends to develop its software and intricate language models to streamline internal operations, making it easier to identify investment opportunities with less initial capital.
Watt emphasized that many venture firms invest in emerging technologies but do not fully adopt them in their processes. By utilizing innovative data and automation, he asserts that Share Ventures stands out from its competitors.
Inspired by personal loss, Watt’s interest in health and longevity was sparked by his mother’s passing at a young age. He reflected on how that experience prompted him to contemplate his own mortality. Despite the lessons learned from the collapse of MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash,” he remains committed to pursuing innovation and growth, embracing the possibility of both failure and success in his new endeavors.