Hamet Watt, co-founder of MoviePass, is stepping away from the company’s tumultuous past to focus on 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 unlimited movie access, has since been working on Share Ventures.
The new company has attracted nearly $20 million in funding, with prominent investors including Alphabet and Amazon. Watt stated that Share Ventures is primarily focused on startups in the fields of future work and longevity.
He believes that the current landscape, characterized by a surge in artificial intelligence and rising interest rates, presents an opportunity for a unique investment model. Share Ventures is developing its own software and advanced language models to streamline its internal processes.
Watt emphasized the advantages of this approach, noting that smaller funds can identify promising opportunities earlier with less capital. “For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively,” he explained.
He also pointed out that while many venture firms are pouring resources into new technologies, they often fail to integrate and utilize them effectively. Watt asserted that leveraging novel data and automation in their processes sets Share Ventures apart.
His personal experiences have shaped his interests, particularly in health and longevity, a focus that emerged after losing his mother at the age of 25. This loss prompted him to contemplate mortality in a way he had not considered prior.
Reflecting on his past with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue innovating despite previous setbacks. He’s motivated by the lessons learned and is willing to take risks in pursuit of success.