Hamet Watt, co-founder of MoviePass, is moving past the company’s notorious downfall and is focused on raising funds for a new venture studio aimed at developing and financing startups.
Watt, who co-created MoviePass in 2011 with the concept of allowing movie fans unlimited access to theaters for a monthly fee, has launched Share Ventures, which has raised nearly $20 million from investors, including major players like Alphabet and Amazon. The new venture is targeting startups involved in the future of work and longevity sectors.
Watt believes that the current surge in artificial intelligence and elevated interest rates have created an environment conducive to a unique venture capital model. He plans for Share Ventures to incorporate its own software and advanced language models to streamline internal operations. He emphasized that smaller funds can yield significant opportunities with less capital.
He noted that while many venture firms are investing in emerging technologies, they often fail to fully leverage these innovations within their own practices. Watt highlighted that utilizing advanced data and automation in their processes sets Share Ventures apart.
The topic of health and longevity holds personal significance for Watt, following the early loss of his mother when he was 25. This experience has influenced his outlook on mortality and the direction of his work.
Reflecting on his experience with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt expressed a renewed determination to innovate despite past failures, emphasizing the importance of learning from his experiences and being willing to take risks.