The co-founder of MoviePass, Hamet Watt, is leaving behind the company’s tumultuous history and is focused on a new venture studio aimed at supporting startup development and funding.
Watt, who launched MoviePass in 2011, has been working on Share Ventures, which has successfully attracted nearly $20 million in funding from prominent investors, including Alphabet and Amazon. The new venture will concentrate on startups in the future of work and longevity sectors.
He believes that the current landscape, shaped by a surge in AI advancements and rising interest rates, presents an opportunity for a unique investment approach. Share Ventures intends to develop its own software and complex language models to streamline internal operations, providing an edge in identifying investment opportunities with less capital and earlier signals.
Watt noted that while many venture firms are backing new technologies, they often fail to integrate and utilize these innovations within their own operations. Share Ventures aims to distinguish itself by employing cutting-edge data and automation in its investment strategy.
Watt’s personal experience with loss—his mother passed away at the age of 49 when he was just 25—has influenced his interest in health and longevity. This tragic event prompted him to reflect on mortality in ways he hadn’t considered before.
Despite the setback of MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate. He expressed enthusiasm for the lessons learned from the past and the courage to pursue new ventures, regardless of the risk of failure.