Hamet Watt, co-founder of MoviePass, is moving past the company’s significant collapse and is actively raising funds for a new venture studio aimed at developing and financing startups.
Watt, who launched MoviePass in 2011, which allowed moviegoers to pay a monthly subscription for unlimited theater access, has founded Share Ventures, which has already secured nearly $20 million in funding from investors including Alphabet and Amazon. The new venture is concentrating on startups in the realms of the future of work and longevity.
He believes that the current landscape, marked by the AI boom and high interest rates, creates an opportunity for a unique venture capital model. This has led Share Ventures to develop its own software and complex language models to streamline its internal processes. Watt mentioned that this approach allows for lower initial capital requirements and earlier identification of potential opportunities.
“A lot of venture firms are investing in these new technologies, but they’re not really embodying and using them,” Watt stated, highlighting the firm’s commitment to leveraging innovative data and automation in its operations.
Watt’s interest in health and longevity was sparked by the early loss of his mother when he was just 25, which prompted him to reflect on his own mortality.
He also spoke about how his past experiences with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” drive him to continue innovating despite previous setbacks. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he pondered.