Hamet Watt, the co-founder of MoviePass, is moving past the company’s dramatic decline and is now focused on raising capital for a new venture studio aimed at developing and funding startups.
Watt, who launched MoviePass in 2011 with the innovative concept of a subscription model for moviegoers, has shared that he is dedicating his efforts to Share Ventures. This new company has successfully garnered nearly $20 million in funding, with notable investors like Alphabet and Amazon. Watt indicated that Share Ventures plans to invest in startups that focus on the future of work and the longevity sector.
Watt believes that the current landscape, marked by the rise of artificial intelligence and elevated interest rates, creates an opportunity for a “differentiated model” in venture capital. To this end, Share Ventures is developing its own software and utilizing complex language models to streamline its internal processes.
“We don’t require as large of funds and can identify opportunities much sooner with less capital,” Watt explained. “This is advantageous for us as we are building companies from the ground up while leveraging advanced tools proactively.”
Watt noted that while many venture firms are investing in new technologies, they may not be effectively incorporating and utilizing them within their operations. “Our use of innovative data and automation in our processes sets us apart,” he stated.
His interest in health and longevity stems from a personal experience—losing his mother at the age of 25, who passed away at just 49. This experience has profoundly influenced his perspective on mortality.
“Experiencing the loss of my mother at a young age compelled me to reflect on my own mortality in a way I hadn’t considered before,” he remarked.
Despite the setbacks faced by MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to pursue innovation. “I focus on what I have learned and the courage to take risks again—whether it leads to failure or success,” he concluded.