Hamet Watt, the co-founder of MoviePass, is embarking on a new journey after the company faced significant challenges. He has launched Share Ventures, a venture studio aimed at developing and funding innovative startups.
Watt, who co-founded MoviePass in 2011, famously proposed a subscription model allowing moviegoers unlimited access to theaters. Now, with nearly $20 million in backing from notable investors such as Alphabet and Amazon, Share Ventures is set to focus on emerging sectors like the future of work and health longevity.
In an interview with Business Insider, Watt emphasized that the current venture capital landscape, influenced by advancements in artificial intelligence and rising interest rates, is primed for a new approach. Share Ventures plans to create its own software and leverage complex language models to streamline its operations. According to Watt, this strategy enables them to identify potential opportunities more quickly and with less financial investment.
He underscored the importance of integrating novel data and automation into the investment process, making this aspect a distinguishing factor for Share Ventures compared to other firms.
Watt’s interest in health and longevity is deeply personal, stemming from the loss of his mother at a young age. This experience ignited a lifelong contemplation of mortality for him, inspiring his current focus.
Reflecting on his past with MoviePass, which he discusses in the documentary “MoviePass, MovieCrash,” Watt expressed that while the experience of failure was difficult, it fueled his desire to innovate and take risks in new endeavors. He is motivated by the questions of what he has learned and what he can achieve in the future.
This new chapter for Watt not only signifies personal resilience but also the potential for innovation in various sectors. His journey highlights the importance of embracing change and continuously striving for improvement, even in the face of past setbacks.
In summary, Watt’s shift from MoviePass to Share Ventures underscores a commitment to leveraging technology to guide the future of startups. His story is a testament to the power of perseverance and the possibility of turning challenges into opportunities.