Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic downfall and is in the process of launching a new venture studio aimed at developing and funding startups. Watt, who founded MoviePass in 2011 with the vision of offering moviegoers a monthly subscription for unlimited theater access, is now focused on Share Ventures.
Share Ventures has already raised nearly $20 million, with investment from major companies like Alphabet and Amazon. The new firm is concentrating on startups involved in the future of work and longevity sectors. Watt believes the current rise of artificial intelligence and high interest rates has created an opportunity for a “differentiated model” in venture capital. As part of this strategy, Share Ventures is developing its own software and complex language models to streamline internal operations.
He mentioned that smaller funds and early signals of opportunities are becoming increasingly feasible, allowing them to build companies from the ground up using advanced tools. Watt highlighted that many venture firms may invest in emerging technologies but often do not incorporate them into their processes. He emphasized that utilizing innovative data and automation gives Share Ventures a distinct advantage.
Watt’s interest in health and longevity was piqued by a personal tragedy; he lost his mother at the age of 25 when she was only 49. This experience profoundly impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue innovating despite setbacks. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”