The co-founder of MoviePass, Hamet Watt, is moving forward from the company’s notable downfall and is currently raising funds for a new venture studio aimed at developing and financing startups. Watt, who established MoviePass in 2011 with the concept of offering moviegoers a subscription for unlimited theater access, has been actively working on Share Ventures.
The new venture has successfully secured nearly $20 million in funding from investors, including major players like Alphabet and Amazon. Watt explained that Share Ventures is primarily focused on startups that cater to the future of work and health longevity.
He believes that the current landscape, marked by an AI boom and elevated interest rates, presents an opportunity for a more distinctive venture capital approach. This is the reason Share Ventures is developing its software in conjunction with sophisticated language models to automate its operations.
Watt stated, “You don’t need as large of funds, and you can identify promising opportunities much earlier with less capital.” He highlighted that this advantageous situation allows his team to build new companies while leveraging the latest technologies.
Watt observed that many venture firms are investing in emerging technologies without fully integrating them into their processes. He emphasized the uniqueness of Share Ventures by focusing on novel data and automation in their operations.
His interest in health and longevity was sparked by a personal loss; he lost his mother at the age of 25, when she was just 49. This experience significantly shaped his perspective on mortality.
Reflecting on his journey with MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt expressed that he remains driven to innovate. “What have I learned, and what do I have the courage to attempt now — even if I might fail or perhaps succeed?” he said.