Hamet Watt, a co-founder of MoviePass, is shifting focus from the company’s downfall to launching Share Ventures, a new venture studio aimed at developing and funding startups.
Watt, who introduced the concept of a monthly subscription for unlimited movie theater access when he co-founded MoviePass in 2011, revealed to Business Insider that Share Ventures has already raised nearly $20 million from investors, including tech giants Alphabet and Amazon. The studio plans to target startups in the future of work and longevity sectors.
He noted that current trends in artificial intelligence and rising interest rates present opportunities for a unique investment model, prompting Share Ventures to develop its own software and utilize advanced language models for internal operations. Watt highlighted the advantage of lower capital requirements for early-stage opportunities, stating, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.”
Watt emphasized that while many venture firms are investing in emerging technologies, they often do not fully implement these innovations in their processes. He believes that leveraging novel data and automation sets his firm apart.
His personal motivation in the health and longevity space stems from a tragic loss; his mother passed away at the age of 49 when he was just 25. This experience has deeply influenced his perspective on life and mortality.
Reflecting on his journey and past failures with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to innovate despite the risks of failure. He is determined to embrace new challenges, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”