Hamet Watt, co-founder of MoviePass, is moving past the company’s notable downfall to focus on a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011 to offer consumers unlimited movie theater access for a monthly fee, has been working diligently at Share Ventures.
The new firm has raised nearly $20 million, with investments from major companies including Alphabet and Amazon. Watt explained that Share Ventures is concentrating on startups in the future of work and longevity sectors.
He believes that the current boom in AI and elevated interest rates present a favorable environment for venture capital, allowing for a more distinct investment model. Consequently, Share Ventures is developing its own software and leveraging complex language models to streamline its internal operations.
Watt emphasized that smaller funds can identify opportunities earlier with reduced capital, which aligns well with their approach of building new companies from the ground up using cutting-edge tools.
He noted that while many venture firms are backing new technologies, they are not fully incorporating them into their processes. Watt is committed to using innovative data and automation, which he believes sets Share Ventures apart.
His interest in health and longevity is deeply personal, stemming from the loss of his mother when he was just 25 years old. This experience made him reflect on mortality in a way that changed his outlook on life.
In discussing his previous experience with MoviePass, which he recently examined in the documentary “MoviePass, MovieCrash,” Watt expressed that failure only fuels his drive to innovate further. He is determined to embrace new challenges, understanding that while failure is possible, succeeding could be within reach.