Hamet Watt, co-founder of MoviePass, is moving past the company’s significant downfall and is now focusing on a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011 with a subscription model for unlimited movie access, is now working with Share Ventures, which has raised nearly $20 million from investors including Alphabet and Amazon.
The new venture is concentrating on startups in the realms of future work and longevity. Watt believes that the current landscape of venture capital, driven by the AI boom and high-interest rates, presents an opportunity for a unique model. Share Ventures intends to create its own software alongside advanced language models to streamline internal operations.
Watt emphasized that smaller funds may allow for quicker identification of promising opportunities, which benefits their approach of building companies from the ground up using cutting-edge tools. He noted that while many venture firms are investing in new technologies, few are fully incorporating and utilizing them in their processes.
The inspiration for Watt’s focus on health and longevity stems from a personal loss—his mother died at the age of 49 when he was just 25. This experience profoundly impacted his perspective on mortality. Reflecting on his past with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt expressed a renewed determination to innovate and learn from both past failures and successes.