Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s notable downfall to launching a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011, has been working diligently at his new company, Share Ventures, which has already raised nearly $20 million with investments from major players like Alphabet and Amazon.
The new firm is concentrating on startups in the fields of future work and longevity. Watt believes that the current landscape shaped by the AI boom and high interest rates has created an opportunity for a differentiated venture capital model. Share Ventures plans to create its own software and integrate complex language models to enhance its internal processes.
Watt noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He emphasized that this approach is beneficial for building companies from the ground up while utilizing advanced tools.
While many venture firms invest in new technologies, Watt insists that Share Ventures uniquely utilizes and embodies these innovations in its operations. He has developed a personal interest in health and longevity after losing his mother at a young age, which has driven his motivation in this new venture.
Reflecting on his experience with MoviePass, which is explored in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate, contemplating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”