The co-founder of MoviePass, Hamet Watt, is moving on from the company’s dramatic downfall and is currently focused on raising funds for a new venture studio aimed at supporting and developing startups.
In an interview with Business Insider, Watt, who launched MoviePass in 2011, shared that he has been dedicated to Share Ventures, a new company that has almost secured $20 million in funding, with notable investors including Alphabet and Amazon. The venture is set to concentrate on startups in the fields of future work and longevity.
Watt believes that the current environment, shaped by the AI surge and high interest rates, presents an opportunity for a “differentiated model” in venture capital. As a result, Share Ventures is not only investing in startups but also creating its own software and complex language models to streamline its operations.
He remarked, “You don’t need as large of funds, and you can identify opportunities much earlier with less capital. For us, that’s beneficial because we’re building companies from scratch and employing the most advanced tools proactively.”
Watt noted that while many venture firms are investing in new technologies, they often do not integrate and utilize them effectively. He emphasized that the integration of innovative data and automation in their processes is a distinctive aspect of Share Ventures.
His interest in health and longevity was spurred by a personal loss, having lost his mother at the age of 25 when she was just 49. This experience, he said, has profoundly influenced the way he views mortality.
Reflecting on his past with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed that the setbacks have only fueled his desire to innovate further. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”