Hamet Watt, a co-founder of MoviePass, is moving forward from the company’s notable downfall and is now focused on launching a new venture studio aimed at developing and funding startups.
Watt, who helped establish MoviePass in 2011 with the concept of offering moviegoers unlimited access to theaters for a monthly fee, has been working on his new company, Share Ventures. This initiative has successfully raised nearly $20 million in funding, with support from prominent investors like Alphabet and Amazon. Share Ventures is targeting startups within the future of work and longevity sectors.
Watt identified the current landscape shaped by the AI boom and elevated interest rates as an opportune moment for a “differentiated model.” He explained that Share Ventures will leverage its own software and complex language models to enhance its internal operations. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he stated. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
He noted that while many venture firms are investing in new technologies, few are incorporating and utilizing them effectively in their own processes. Watt emphasized that their approach—employing novel data and automation—sets Share Ventures apart.
Watt’s interest in health and longevity was sparked after the early passing of his mother when he was 25 years old. “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,” he reflected.
Despite the challenges faced by MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate. He remarked, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”