Hamet Watt, the co-founder of MoviePass, is transitioning from the company’s notable decline to pursue a new venture studio aimed at developing and funding startups. Watt, who co-founded MoviePass in 2011 with the innovative concept of offering unlimited movie access for a monthly fee, has launched Share Ventures.
The new venture has already raised nearly $20 million, with investments from big names such as Alphabet and Amazon. Watt revealed that Share Ventures plans to concentrate on startups within the realms of future work and longevity.
He believes that the ongoing AI revolution and rising interest rates have created an environment favorable for a unique venture capital approach. As a result, Share Ventures is developing its own software in conjunction with advanced language models to streamline and automate its internal operations.
Watt explained that smaller funds can be effective because they allow for earlier identification of opportunities 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 stated.
He noted that while many venture firms invest in emerging technologies, they often do not fully integrate or utilize them in their processes. Watt indicated that employing innovative data and automation is a distinctive strength of Share Ventures.
His interest in health and longevity stems from personal experience, particularly after losing his mother at the age of 25, just when she was 49. This experience encouraged Watt to reflect on his own mortality and has shaped his perspective on the importance of health initiatives.
Watt’s setbacks with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” have only fueled his desire to continue innovating. He expressed a readiness to embrace new challenges, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”