Hamet Watt, co-founder of MoviePass, is moving past the company’s notable downfall and is now focused on a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011 to offer unlimited theater access for a monthly fee, is currently spearheading Share Ventures, which has already raised nearly $20 million in funding from investors including Alphabet and Amazon.
The new venture will concentrate on startups that focus on the future of work and longevity. Watt believes that the current climate, particularly the surge in artificial intelligence and high interest rates, creates an opportunity for a unique investment model. He intends for Share Ventures to develop its own software and intricate language models to streamline its operations.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” Watt views this approach positively as his team builds companies from the ground up using advanced tools.
Watt also commented on the trend of venture firms investing in emerging technologies but not adopting or utilizing them internally. He expressed that Share Ventures’ use of innovative data and automation in its investment processes sets it apart from others.
His personal motivation stems from a tragic loss at a young age — his mother passed away when he was just 25, a loss that has shaped his perspective on health and longevity. Reflecting on this, Watt shared, “When you lose your mom at a young age, it forces you to think about your own mortality.”
Despite the collapse of MoviePass, which Watt discussed in the documentary “MoviePass, MovieCrash,” he remains driven to innovate. He concluded with a forward-looking mindset: “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”