Hamet Watt, the co-founder of MoviePass, is turning the page from the company’s significant downfall to launch a new venture studio aimed at supporting startup development and funding.
Watt, who introduced the innovative subscription model for moviegoers in 2011, has been actively working on his new enterprise, Share Ventures. This venture has already attracted nearly $20 million in funding, with participation from prominent investors such as Alphabet and Amazon. Share Ventures is focusing on startups in the realms of future work and longevity.
Watt believes the current landscape, shaped by the surge of artificial intelligence and rising interest rates, presents an opportunity for a unique investment model. Share Ventures plans to develop its own software and use advanced language models to enhance operational efficiency. Watt expressed that with the right approach, firms can identify promising opportunities with less capital upfront. He highlighted that his team is leveraging cutting-edge tools to build companies from the ground up.
He pointed out that while many venture firms are investing in new technologies, few are adopting and utilizing them in their processes. Watt emphasized the significance of integrating innovative data and automation, which he sees as a distinctive advantage for Share Ventures.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at the young age of 25. This experience prompted him to reflect on mortality and the importance of health.
Watt’s past experiences, including the challenges faced by MoviePass, have only fueled his resolve to continue innovating. He recently shared insights about his journey in the documentary “MoviePass, MovieCrash,” reflecting on the lessons learned and his willingness to embrace both potential failures and successes in his new endeavors.