Hamet Watt, co-founder of MoviePass, is moving forward from the company’s remarkable downfall to launch a new venture studio aimed at developing and funding startups. Watt, who introduced the concept of unlimited movie access for a monthly fee through MoviePass in 2011, has been actively working with Share Ventures.
The new firm has raised nearly $20 million with support from major investors, including Alphabet and Amazon. Watt indicated that Share Ventures is concentrating on startups focused on the future of work and longevity sectors.
He believes that the current environment shaped by the AI boom and high interest rates has created an opportunity for a unique venture capital approach. Share Ventures plans to develop its own software and sophisticated language models to streamline operations and enhance its internal processes.
Watt expressed confidence that smaller funding needs can lead to early assessment of opportunities, which plays to Share Ventures’ strengths as it builds companies from the ground up using cutting-edge tools.
He noted that while many venture firms are investing in new technologies, they often fail to integrate them into their own processes. “Utilizing innovative data and automation is something we believe sets us apart,” he remarked.
Watt’s interest in health and longevity stems from a personal loss; he lost his mother at the age of 25 when she was just 49. This experience has profoundly influenced his perspective on mortality and motivated his current endeavors.
Reflecting on his past with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” Watt is inspired to continue innovating despite previous challenges. He emphasized the importance of learning from failure and having the courage to pursue new ideas.