The co-founder of MoviePass is embarking on a new journey after the collapse of the company. Hamet Watt, who introduced the concept of unlimited movie access for a monthly fee in 2011, is now focused on Share Ventures, a new venture studio aimed at developing and funding startups.
Share Ventures has successfully raised nearly $20 million, attracting prominent investors including Alphabet and Amazon. The studio plans to concentrate on startups in the sectors of future work and longevity. Watt believes the current environment, influenced by advancements in artificial intelligence and fluctuating interest rates, presents a unique opportunity for a differentiated venture capital model. To capitalize on this, Share Ventures is developing its own software and complex language models to streamline operations internally.
Watt highlighted that this approach enables them to require less funding while identifying opportunities more swiftly with minimal capital. He noted that many venture firms invest in innovative technologies but do not actively utilize them in their operations.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at a young age, which prompted him to reflect on mortality. Despite the setbacks with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate, asking himself what lessons he can apply moving forward in this new venture.