Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new journey by raising funds for a venture studio aimed at developing and financing startups.
Watt, who launched MoviePass in 2011 to offer moviegoers a subscription model for unlimited theater access, has shifted his focus to Share Ventures, which has attracted nearly $20 million in funding from prominent investors including Alphabet and Amazon. The venture is particularly interested in startups that explore future work solutions and longevity.
According to Watt, the current landscape of venture capital, influenced by the rise of artificial intelligence and high interest rates, presents opportunities for innovative models. Share Ventures plans to develop its own software and utilize advanced language models to streamline internal operations, allowing for quicker investments with less capital.
Watt noted that while many venture firms are investing in new technologies, few are actively incorporating and utilizing them in their processes. He emphasized that using novel data and automation is a distinctive approach for Share Ventures.
His personal experiences, particularly the loss of his mother at a young age, have inspired him to delve into health and longevity. This tragedy shaped his perspective on mortality and motivates him to pursue endeavors that can make a difference in those areas.
Watt reflects on his past experiences with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” and feels that his past failures only drive his desire to innovate further. He is determined to take risks and is optimistic about the potential for success in his new venture.