Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s notable collapse. He has launched Share Ventures, a venture studio aimed at developing and funding startups.
Watt, who introduced the concept of a monthly subscription for unlimited movie access through MoviePass in 2011, shared with Business Insider that he is deeply engaged in his new venture. Share Ventures has already attracted nearly $20 million in funding, with investments from prominent backers including Alphabet and Amazon. The focus of the studio is on emerging companies within the realms of future work and health longevity.
Watt believes that the current landscape, shaped by the AI boom and rising interest rates, is favorable for innovative investment models. Share Ventures plans to use its own software and advanced language models to streamline operations. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt stated, emphasizing the advantages of building companies from the ground up using sophisticated tools.
He noted that while many venture firms are backing new technologies, few are fully integrating and utilizing these innovations in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he added.
Watt’s personal experiences have also shaped his current focus. After the loss of his mother at a young age, he started to contemplate health and longevity more seriously. Reflecting on this tragedy, he said, “When you lose your mom at a young age, it forces you to think about your own mortality, in a way that I don’t know that I was conscious of at the time.”
Despite the challenges faced during MoviePass’s decline, which he addressed in the documentary “MoviePass: MovieCrash,” Watt remains determined to innovate. He contemplates the lessons learned from his past ventures, asking himself, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”