Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s past challenges to launching a new venture studio aimed at developing and funding startups.
Watt, who launched MoviePass in 2011, which allowed movie enthusiasts to pay a monthly fee for unlimited theater access, is now deeply engaged with Share Ventures. The new company has raised nearly $20 million from investors, including tech giants Alphabet and Amazon. Watt’s current focus lies in the realms of the future of work and longevity.
He believes that the rise of artificial intelligence and prevailing high interest rates have created a favorable environment for a “differentiated model” in venture capital. Consequently, Share Ventures is creating its own software and utilizing advanced language models to streamline its operations.
Watt stated, “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 to do that proactively.”
He noted that while many venture firms are investing in new technologies, they often fail to adopt and integrate these innovations within their own processes.
Watt’s personal experiences also drive his interest in health and longevity, especially after the loss of his mother at the age of 25. “When you lose your mom at a young age, it forces you to think about your own mortality, in a way that I don’t know that I was conscious of at the time,” he reflected.
Despite the setbacks with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt views these experiences as motivation for future innovation. He expressed a desire to explore what he has learned and to embrace the possibility of failure as part of the journey toward success.