Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new venture after the company’s dramatic collapse. He is raising funds for a startup studio called Share Ventures, aimed at developing and funding new business ideas.
Watt, who introduced the concept of a subscription model for unlimited movie theater access in 2011, shared with Business Insider that Share Ventures has already secured nearly $20 million from investors, including giants like Alphabet and Amazon. The studio plans to concentrate on startups within the evolving domains of work and longevity.
According to Watt, the current landscape of venture capital, influenced by the AI boom and increased interest rates, presents an opportunity for innovative funding approaches. Share Ventures is developing its software and sophisticated language models to enhance efficiency and streamline operations.
Watt emphasized that smaller funds can efficiently identify investment opportunities with less capital. He noted that many venture firms explore emerging technologies but fail to leverage them fully in their business operations.
His personal journey into health and longevity was shaped by the loss of his mother at a young age, prompting him to reflect on mortality.
Despite the challenges faced with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate and explore new possibilities. He expressed a determination to learn from past experiences and embrace the potential for success or failure in his future endeavors.