Hamet Watt, co-founder of MoviePass, is embarking on a new journey following the company’s downfall by raising funds for a venture studio aimed at developing and financing startups.
Watt co-founded MoviePass in 2011, proposing a subscription model that allowed moviegoers unlimited access to theaters for a monthly fee. He recently shared insights about his latest venture, Share Ventures, which has already attracted nearly $20 million in funding from notable investors like Alphabet and Amazon. This new company is concentrating on innovations in the future of work and longevity sectors.
He believes the current landscape of venture capital, shaped by the AI boom and high interest rates, is conducive to unique investment models. Share Ventures aims to create its own software and utilize advanced language models to streamline internal operations. Watt emphasizes that this approach enables the identification of opportunities with significantly less capital required.
Watt also noted that many venture firms are investing in new technologies but are not fully leveraging them in their processes. He believes the use of innovative data and automation is a distinct advantage for Share Ventures.
His personal experience with loss has driven Watt’s interest in health and longevity. He lost his mother at the young age of 25, which deeply impacted his perspective on mortality.
Reflecting on his journey, Watt discussed his experiences with MoviePass in the recent documentary “MoviePass, MovieCrash,” expressing a determination to innovate despite past failures. He is motivated by the question of what he has learned and what risks he is willing to take in his new venture.