Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable collapse and is now focused on raising capital for a new venture studio aimed at supporting and financing startups. Watt, who founded MoviePass in 2011 with the innovative idea of offering unlimited access to theaters for a monthly fee, has been actively involved with his new company, Share Ventures.
Share Ventures has already secured nearly $20 million in funding, with prominent investors such as Alphabet and Amazon. The firm is particularly interested in startups that focus on the future of work and longevity. Watt believes that the current landscape, shaped by the rise of artificial intelligence and elevated interest rates, presents a unique opportunity for a “differentiated model” in venture capital. This is why Share Ventures is developing its own software alongside complex language models to enhance its operations.
Watt explained, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He sees this as beneficial for Share Ventures, allowing them to build companies from the ground up while leveraging advanced tools proactively.
Watt noted that while many venture firms invest in new technologies, they often do not fully utilize or embody them in their operations. He emphasized the significance of integrating innovative data and automation into their processes, which he believes sets Share Ventures apart.
His interest in health and longevity was sparked by a personal tragedy—losing his mother at the young age of 25. This experience forced him to reflect on mortality in a profound way.
Watt’s past experiences with MoviePass, which he discusses in the documentary “MoviePass, MovieCrash,” have only fueled his determination to innovate. He expressed a desire to learn from his failures and find the courage to pursue new ventures, regardless of the potential for setbacks.