Hamet Watt, a co-founder of MoviePass, is moving beyond the company’s notable collapse and is actively raising funds for a new venture studio aimed at supporting and financing startups.
Watt, who introduced MoviePass in 2011, a subscription service allowing unlimited access to theaters, has been working diligently on his new venture, Share Ventures. The startup has almost $20 million secured in funding from investors including Alphabet and Amazon. Share Ventures is targeting startups focused on the future of work and health longevity.
Watt believes that the current landscape, marked by the rise of AI technologies and high interest rates, makes it an opportune time for a differentiated investment model. To this end, Share Ventures is developing its own software and leveraging advanced language models to enhance its internal 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.” This approach, according to Watt, allows the company to build new businesses from the ground up while utilizing the most advanced tools.
Watt pointed out that while many venture firms are putting their money into new technologies, they often fail to integrate and utilize them effectively. “Using novel data and automation in our process is something we think is uniquely special to us,” he commented.
His personal motivation for venturing into health and longevity stems from the early loss of his mother when he was just 25 years old. This experience prompted him to contemplate his own mortality more deeply.
Reflecting on his previous experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to continue innovating despite past failures. 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?”