Hamet Watt, co-founder of MoviePass, is moving past the company’s dramatic downfall to focus on a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011 with the concept of a subscription service for unlimited movie access, is now dedicated to his new company, Share Ventures.
Share Ventures has successfully raised nearly $20 million in funding from prominent investors, including Alphabet and Amazon. The firm is concentrating on startups in sectors related to the future of work and longevity.
Watt notes that the current climate, marked by the AI surge and elevated interest rates, has created an opportunity for a “differentiated model” in venture capital. Share Ventures is developing its proprietary software along with complex language models to streamline operations.
He emphasized that smaller funds can yield significant insights on potential opportunities more quickly, enabling the process of building startups from scratch using advanced tools.
Watt observed that while many venture firms are investing in innovative technologies, they often do not integrate these tools into their own processes. He considers the use of unique data and automation as a key differentiator for Share Ventures.
His interest in health and longevity was sparked by the early loss of his mother when he was 25 years old, which profoundly impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to continue innovating despite past failures. He is determined to learn from his experiences and confront new challenges, whether they lead to success or further lessons.