The co-founder of MoviePass, Hamet Watt, is transitioning from the company’s dramatic downfall to launch a new venture studio aimed at developing and funding startups. Watt, who established MoviePass in 2011 with the innovative concept of a subscription model for unlimited movie theater access, is now focused on his latest project, Share Ventures.
Share Ventures has successfully raised nearly $20 million, attracting investment from notable backers such as Alphabet and Amazon. The studio is concentrating on startups in the areas of future work and longevity, reflecting Watt’s vision for the evolving technological landscape.
Watt believes the current environment of artificial intelligence growth and high interest rates creates an opportunity for a unique venture capital model. Share Ventures plans to develop its own software and leverage advanced language models to streamline its operations. He explained that smaller funds can yield significant insights into potential opportunities much earlier, which benefits their approach to building companies from the ground up.
He noted that while many venture firms are pouring money into new technologies, they often do not fully utilize these innovations in their processes. Share Ventures aims to set itself apart by integrating novel data and automation into its methodology.
Watt’s interest in health and longevity was partly influenced by personal tragedy; he lost his mother at the young age of 25, an experience that deeply affected his perspective on life and mortality.
Reflecting on his journey after the failure of MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt remains committed to innovation. He expressed a willingness to embrace both the risks of potential failure and the possibilities of success in his future endeavors.