Hamet Watt, co-founder of MoviePass, is embarking on a new chapter after the company’s dramatic collapse by raising funds for his new venture studio, Share Ventures, which aims to support and develop startups.
Watt, who launched MoviePass in 2011 with a subscription model for unlimited movie theater access, shared with Business Insider that he has been actively working on Share Ventures. The new company has already garnered nearly $20 million from investors, including major players like Alphabet and Amazon. Watt emphasized that the venture studio is focused on startups related to the future of work and longevity.
He noted that the current landscape of venture capital, influenced by the rise of AI and elevated interest rates, presents an opportunity for a “differentiated model.” Share Ventures plans to develop its own software and utilize complex language models to streamline its internal processes. Watt explained, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This strategy allows Share Ventures to build companies from the ground up using advanced tools.
Watt pointed out that while many venture firms are investing in new technologies, they often do not leverage those technologies in their operations. He believes that integrating novel data and automation is a distinctive advantage for his venture studio.
His interest in health and longevity stemmed from a personal tragedy—losing his mother at the age of 25. “When you lose your mom at a young age, it forces you to think about your own mortality,” he reflected.
Watt also mentioned that his previous experience with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” has only fueled his desire to innovate further. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he pondered.