The co-founder of MoviePass is embarking on a new journey, moving past the company’s downfall to launch a venture studio aimed at developing and funding startups.
Hamet Watt, who co-founded MoviePass in 2011 with the innovative idea of allowing moviegoers to pay a monthly fee for unlimited theater access, has been actively working on a new initiative called Share Ventures. In an interview, Watt revealed that Share Ventures has already secured nearly $20 million in funding from notable investors including Alphabet and Amazon. The venture is focusing on startups related to the future of work and longevity.
Watt believes that the rise of AI and high interest rates have created opportunities for a distinct venture capital model, which is why Share Ventures plans to develop its own software and advanced language models to enhance its operations. He expressed that smaller funds can yield significant insights into opportunities much earlier, allowing for more efficient startup development.
“Using novel data and automation in our process is something we think is uniquely special to us,” Watt said, noting that many venture firms may invest in new technologies but do not fully utilize them.
His interest in health and longevity stems from a personal loss; Watt lost his mother at the age of 25 when she was just 49. This experience profoundly impacted him, prompting reflections on his own mortality.
Watt remains motivated by his past experiences with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash.” He is determined to learn from those challenges and remain open to the possibilities of both success and failure in his new ventures.