The co-founder of MoviePass, Hamet Watt, is moving past the company’s dramatic decline and is now focused on launching a new venture studio aimed at developing and financing startups. Watt, who co-founded MoviePass in 2011 with the innovative concept of offering unlimited movie theater access for a monthly fee, has been actively working on Share Ventures.
The newly established company has raised nearly $20 million in funding, with notable investors including Alphabet and Amazon. Watt indicated that Share Ventures is directed towards startups in the areas of future work and longevity.
He believes that the current climate of the AI surge and elevated interest rates has created a favorable environment for a “differentiated” venture capital model. To this end, Share Ventures is developing its own software and advanced language models to streamline its internal processes. Watt highlighted that smaller fund sizes enable earlier signals on potential opportunities, allowing them to build new companies with cutting-edge tools more effectively.
Watt remarked that many venture firms are investing in emerging technologies but fail to incorporate and utilize them in their operations. He emphasized that employing innovative data and automation distinguishes Share Ventures from its competitors.
His interest in health and longevity was sparked by a personal tragedy; Watt lost his mother when he was just 25 years old, as she passed away at the age of 49. This loss prompted him to reflect on mortality in a profound way.
Watt’s experience with the downfall of MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” has only strengthened his resolve to continue innovating despite the potential for failure. He remains committed to learning from his past and pursuing new ventures with both courage and a readiness to take risks.