Hamet Watt, co-founder of MoviePass, is moving past the company’s notorious decline and is now focused on launching a new venture studio aimed at developing and funding startups.
Watt, who introduced the MoviePass model in 2011 that allowed subscribers unlimited access to theaters for a monthly fee, has been working diligently on Share Ventures. The startup has already secured nearly $20 million from investors including Alphabet and Amazon, with a mission to concentrate on the future of work and health longevity sectors.
According to Watt, the current landscape of venture capital, influenced by the rise of AI and elevated interest rates, demands a unique approach. Share Ventures plans to create its own software along with complex language models to enhance internal operations.
Watt stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This enables Share Ventures to build companies from the ground up, utilizing advanced tools to facilitate their growth.
He pointed out that while many venture firms are investing in new technologies, they often don’t fully integrate these innovations into their practices. Watt believes that their emphasis on novel data and automation sets them apart from others in the industry.
His interest in health and longevity was sparked by personal loss, having lost his mother at the age of 25. This experience led him to reflect deeply on mortality and the importance of health innovations.
Watt has also expressed that his experiences with MoviePass, which he candidly discussed in the documentary “MoviePass, MovieCrash,” have only fueled his desire to innovate further. He remains committed to the idea of continuously learning and embracing the possibility of success or failure in his future endeavors.