Hamet Watt, co-founder of MoviePass, is transitioning from the company’s well-known decline to launch a new venture studio aimed at developing and funding startups. Watt founded MoviePass in 2011, introducing the concept of a monthly subscription for unlimited access to theaters. In a recent interview, he shared that he is now focused on his new company, Share Ventures, which has already raised nearly $20 million in funding from prominent investors including Alphabet and Amazon.
Share Ventures is primarily concentrating on startups in the realms of future work and longevity. Watt believes that the current landscape of venture capital is primed for alternative models, particularly due to the AI surge and rising interest rates. He emphasized that by developing proprietary software and advanced language models, Share Ventures is streamlining its operations, enhancing its ability to identify opportunities with less initial capital.
He remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” noting the advantages this provides in building companies from the ground up. Watt also pointed out that while many venture firms are investing in new technologies, few are effectively integrating and utilizing them in their operations.
His personal experiences have greatly shaped his interests, especially in health and longevity. Watt’s motivation stems from the loss of his mother at a young age—an event that led him to contemplate mortality and the importance of health.
Reflecting on the downfall of MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt conveyed that past failures only fuel his determination to innovate. He expressed the mindset of learning from experiences and having the courage to pursue new ventures, regardless of the risk of failure.