The co-founder of MoviePass, Hamet Watt, is set to move past the company’s dramatic decline as he raises funds for a new venture studio aimed at supporting startups. Watt, who helped launch MoviePass in 2011 with the vision of offering moviegoers unlimited theater access for a monthly fee, is now focusing his efforts on a new initiative called Share Ventures.
He has already secured nearly $20 million in funding from prominent investors, including Alphabet and Amazon. Share Ventures is concentrating on startups positioned in the future of work and longevity sectors. Watt believes that the current market, shaped by the rise of artificial intelligence and elevated interest rates, creates an opportunity for a more distinct business model in venture capital.
According to Watt, the use of advanced technology, such as complex language models, allows Share Ventures to automate its internal processes, reducing the need for substantial capital investments while enabling early detection of promising opportunities. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he noted.
Watt emphasized that while many venture firms are investing in emerging technologies, they often fail to fully integrate and utilize these innovations in their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he remarked.
His personal experiences have also steered Watt’s interest toward health and longevity, particularly after the loss of his mother at 25, who passed away at the age of 49. This early loss has profoundly shaped his perspective on life and mortality.
Reflecting on his journey post-MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to continue exploring innovation despite past challenges. 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?”