Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new journey as he establishes a venture studio aimed at developing and financing startups. The initiative, named Share Ventures, has already attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon.
Watt, who originally launched MoviePass in 2011, which allowed users unlimited access to theaters for a monthly fee, is focusing Share Ventures on startups related to the future of work and longevity. He believes that the current economic landscape, characterized by an AI boom and high interest rates, presents a ripe opportunity for a differentiated investment model.
Watt explained that Share Ventures plans to create its own software and leverage advanced language models to streamline its internal operations. He stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This strategy allows the company to build startups from the ground up while utilizing cutting-edge tools.
Despite many venture firms investing in new technologies, Watt emphasizes that his approach is unique due to the incorporation of novel data and automation in their processes.
After losing his mother at a young age, Watt developed a keen interest in health and longevity. The experience shaped his perspective on mortality, motivating him to pursue new ventures, including the lessons learned from the downfall of MoviePass. He reflects on his experiences, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”