Hamet Watt, co-founder of MoviePass, is moving forward from the company’s dramatic downfall to establish a new venture studio aimed at developing and financing startups.
Watt, who introduced the innovative subscription model of unlimited movie access through MoviePass in 2011, shared with Business Insider that he is diligently working on Share Ventures. The new venture has attracted nearly $20 million in funding, with support from major investors like Alphabet and Amazon. Share Ventures is focused on emerging startups in the areas of future work and longevity.
He believes the current landscape, influenced by the AI surge and elevated interest rates, creates an opportunity for a unique investment model. To capitalize on this, Share Ventures is developing its own software and complex language models to streamline its internal operations, allowing for quicker identification of opportunities with less capital. Watt noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.”
Watt pointed out that many venture firms are investing in new technologies but are not fully utilizing them within their operations. He emphasized that Using novel data and automation is a distinct advantage for Share Ventures.
His personal journey into health and longevity was sparked by the loss of his mother at the age of 25, who passed away at just 49. This experience forced him to confront his own mortality and inspired his focus on these fields.
Reflecting on his experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains motivated to continue innovating despite past setbacks. He remarked on the importance of learning from failures and having the courage to pursue new ventures, acknowledging that success is never guaranteed.