Hamet Watt, one of the co-founders of MoviePass, is moving forward from the company’s notable downfall and is now focused on raising capital for a new venture studio aimed at developing and funding startups.
Watt, who launched MoviePass in 2011 with the revolutionary idea allowing moviegoers to access theaters through a monthly subscription, has been busy with his new initiative, Share Ventures. The company has already attracted nearly $20 million in funding, backed by major players including Alphabet and Amazon.
Watt envisions Share Ventures as a key player in the emerging sectors of future work and longevity. He believes that the current landscape of venture capital, influenced by the AI revolution and elevated interest rates, is suited for a “differentiated model.” As a result, Share Ventures is developing its own software and sophisticated language models to streamline its operations.
He commented, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach allows Share Ventures to focus on building companies from the ground up while leveraging the latest technological tools.
Watt pointed out that many venture firms may be investing in new technologies but are not fully integrating or utilizing them in their processes. He believes that using innovative data and automation is a distinctive feature of Share Ventures.
His personal experience with loss has driven Watt’s interest in health and longevity issues. He lost his mother at the young age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his journey after MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt is motivated to pursue new innovations despite past setbacks. He remarked, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”