Hamet Watt, co-founder of MoviePass, is moving past the company’s turbulent downfall to launch a new venture studio aimed at supporting and financing startups. Watt, who established MoviePass in 2011 with the concept of offering unlimited movie access for a monthly fee, is now focused on his new company, Share Ventures.
Share Ventures has already raised nearly $20 million with investment from major backers, including Alphabet and Amazon. The studio’s primary goal is to concentrate on startups in the fields of future work and longevity.
Watt believes that the current landscape of venture capital, influenced by the rise of artificial intelligence and high interest rates, is ideal for a unique investment model. He emphasized that Share Ventures is developing its own software, along with advanced language models, to streamline its internal operations.
He commented, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools proactively.”
Watt pointed out that while many venture firms are investing in new technologies, they often fail to fully implement and leverage them in their processes. He believes that utilizing innovative data and automation sets Share Ventures apart.
His interest in health and longevity was sparked by the loss of his mother when he was just 25, which prompted him to contemplate mortality more deeply.
Reflecting on the challenges he faced with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue innovating: “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”