The co-founder of MoviePass, Hamet Watt, has shifted his focus from the company’s downfall to raising capital for a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011, has been working on Share Ventures, which has successfully secured nearly $20 million in funding from notable backers, including Alphabet and Amazon.
Share Ventures will concentrate on startups in the future of work and longevity sectors. Watt believes that the current environment, characterized by the AI boom and high interest rates, presents an opportunity for a unique venture capital approach. He emphasized that the company is leveraging advanced technology to automate internal processes while creating its own software and complex language models.
Watt pointed out that many venture firms are investing in new technologies without fully utilizing them. He highlighted the importance of incorporating novel data and automation into their operations, which he sees as a distinctive advantage for Share Ventures.
His personal experience with loss has driven Watt’s interest in health and longevity. Losing his mother at a young age prompted deep reflections on mortality, influencing his current focus. Despite the failures associated with MoviePass, which he detailed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate and explore new ventures. He poses a reflective question about the lessons learned and the courage to take new risks, whether successful or not.