Hamet Watt, co-founder of MoviePass, is shifting focus from the company’s dramatic downfall to launch a new venture studio aimed at developing and funding startups. Watt, who initially conceptualized MoviePass in 2011 with the unique idea of offering a subscription model for unlimited movie theater access, is now leading Share Ventures.
The new company has attracted nearly $20 million in funding from notable investors including Alphabet and Amazon. Watt’s venture will concentrate on innovations in the future of work and longevity sectors. He believes the current environment, characterized by the growth of AI and elevated interest rates, presents an opportunity for a differentiated investment model.
Watt explained that Share Ventures intends to harness advanced software and complex language models to streamline operations and enhance the startup development process. He emphasized the advantages of smaller funding requirements and earlier signals for investment opportunities in today’s market.
In his view, many venture firms are investing in new technologies without fully integrating and utilizing them within their operations. Watt’s objective is to incorporate novel data and automation into their processes, setting Share Ventures apart.
His passion for health and longevity emerged after the early loss of his mother at the age of 25, which deeply influenced his perspective on mortality. Reflecting on his experiences with MoviePass, he recognized that failure has only fueled his determination to innovate further. Watt’s latest endeavor represents his commitment to pursuing new opportunities despite past setbacks.