Hamet Watt, the co-founder of MoviePass, is moving on from the company’s notable collapse and is now raising funds for a new venture studio aimed at developing and financing startups.
Watt, who launched MoviePass in 2011 with the concept of offering moviegoers unlimited access to theaters for a monthly fee, has been diligently working on Share Ventures. The new company has successfully secured nearly $20 million in funding from prominent backers, including Alphabet and Amazon. Watt has indicated that Share Ventures will focus on startups related to the future of work and longevity sectors.
He believes that the current landscape of high interest rates and the AI boom has created favorable conditions for a venture capital model that stands out. As a result, Share Ventures is in the process of developing proprietary software and sophisticated language models to streamline its operations. Watt explained that this approach allows for early detection of investment opportunities with less capital required.
He noted that while many venture firms are pouring money into new technologies, they often do not fully integrate or utilize those innovations in their own processes. Watt emphasized that leveraging unique data and automation sets Share Ventures apart from others in the field.
His personal interest in health and longevity stems from the loss of his mother at the young age of 25, who passed away at just 49. This experience has profoundly impacted his perspective on life and mortality.
Reflecting on his journey with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed a desire to continue innovating, regardless of potential setbacks. He asked himself, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”