Hamet Watt, co-founder of MoviePass, is moving beyond the company’s dramatic downfall and is now focused on establishing a new venture studio designed to support and finance startups. Watt, who launched MoviePass in 2011, shared insights about his current project, Share Ventures, with Business Insider.
Share Ventures has already raised nearly $20 million in funding from notable investors, including Alphabet and Amazon. The firm aims to concentrate on startups within the realms of future work and longevity.
Watt believes that the current landscape of venture capital, influenced by the rise of artificial intelligence and elevated interest rates, necessitates a differentiated approach. As a result, Share Ventures is developing its own software and complex language models to streamline its internal operations.
He emphasized that smaller funds can yield significant insights about investment opportunities more quickly and with 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,” Watt stated.
He noted that while many venture firms are pouring money into new technologies, they often do not fully integrate and utilize these innovations in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he commented.
Watt’s interest in health and longevity was spurred by the loss of his mother when he was just 25 years old. This personal tragedy forced him to confront thoughts about mortality, influencing his current entrepreneurial path.
Reflecting on his experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed his motivation to continue innovating. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”