Hamet Watt, co-founder of MoviePass, is moving past the company’s turbulent decline and is now focused on launching a new venture studio aimed at developing and financing startups.
Watt founded MoviePass in 2011, introducing a subscription model that allowed moviegoers to watch unlimited films at theaters for a monthly fee. He has recently been busy with Share Ventures, which has already raised nearly $20 million in funding from prominent investors, including Alphabet and Amazon. The new firm is concentrating on startups in the realms of work innovation and longevity.
Watt believes that the current landscape of high interest rates and the rise of artificial intelligence presents an opportunity for a “differentiated model” in venture capital. Share Ventures plans to develop its own software and incorporate advanced language models to streamline its internal operations.
According to Watt, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He emphasizes that this approach is advantageous for building companies from the ground up, utilizing cutting-edge tools.
He noted that many venture capital firms are investing in emerging technologies but aren’t fully integrating them into their own practices. “Using novel data and automation in our process is something we think is uniquely special to us,” he explained.
Watt’s personal experiences, particularly the loss of his mother at the age of 25, sparked his interest in health and longevity. He discussed how this loss has shaped his perspective on life and mortality.
Reflecting on his past experiences with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”