Hamet Watt, co-founder of MoviePass, is moving on from the company’s dramatic downfall and is now focused on establishing a new venture studio aimed at developing and funding startups.
Watt, who launched MoviePass in 2011, envisioned a subscription model that allowed moviegoers unlimited access to theaters for a monthly fee. He has since been busy with Share Ventures, which has successfully raised nearly $20 million in funding from investors, including tech giants Alphabet and Amazon. The new company intends to concentrate on startups in the fields of future work and longevity.
Watt believes that the current environment of booming artificial intelligence and elevated interest rates presents a ripe opportunity for a venture capital model that stands out. Share Ventures plans to focus on creating its own software and sophisticated language models to streamline internal processes, which he sees as an innovative approach to building companies from the ground up.
He emphasized that while many venture firms are investing in new technologies, they often do not incorporate and utilize these innovations within their operations. Watt highlighted the importance of using unique data and automation as a key differentiator for Share Ventures.
Motivated by personal experience, Watt developed an interest in health and longevity after the early loss of his mother at the age of 25, who passed away at just 49. This experience has profoundly influenced his perspective on life and innovation.
Reflecting on the lessons learned from the collapse of MoviePass, which he recently discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a renewed determination to innovate. He is now ready to embrace the possibility of both success and failure in his future ventures.