The co-founder of MoviePass, Hamet Watt, is moving forward from the company’s dramatic decline and is now focused on launching a new venture studio called Share Ventures to support startups. Since its inception in 2011, MoviePass aimed to revolutionize moviegoing by allowing subscribers unlimited access to theaters for a monthly fee.
Watt has been actively developing Share Ventures, which has already raised nearly $20 million in funding from significant investors such as Alphabet and Amazon. The studio intends to concentrate on startups related to the future of work and longevity. He believes that the current landscape of venture capital, shaped by the AI boom and rising interest rates, presents a unique opportunity for a differentiated investment model.
Watt emphasizes that Share Ventures will utilize advanced software and complex language models to enhance productivity and decision-making processes. He acknowledged that many venture firms are investing in emerging technologies but are not fully utilizing them in their operations. By incorporating innovative data and automation, Share Ventures aims to set itself apart in the competitive investment space.
Watt’s personal experiences, especially the loss of his mother at a young age, have profoundly influenced his interest in health and longevity. This motivation fuels his passion for innovation despite the setbacks he faced with MoviePass, as he reflects on the lessons learned and the courage needed to pursue new endeavors.
Watt’s story is a testament to resilience and the drive to keep pushing the boundaries of innovation. His dedication to integrating advanced technologies could potentially pave the way for groundbreaking advancements in the startup ecosystem, ensuring both personal and societal benefits.
As he embarks on this new journey, there is hope that Watt’s insights and experiences will lead to significant contributions in health and work-related technologies, highlighting the importance of growth and perseverance in the face of failure.