Hamet Watt, a co-founder of MoviePass, is moving forward from the company’s downfall and is currently raising funds for a new venture studio aimed at developing and supporting startups.
Watt, who launched MoviePass in 2011 with the concept of a subscription model for movie theaters, is now focused on his new company, Share Ventures, which has already secured nearly $20 million in funding from notable backers including Alphabet and Amazon. The venture aims to target startups in areas related to the future of work and longevity.
He believes that the current landscape, influenced by the AI boom and rising interest rates, presents an opportunity for a unique approach in venture capital. As such, Share Ventures is developing its own software and complex language models to automate internal processes. Watt explained that this allows for earlier detection of investment opportunities with less capital required.
Watt has observed that many venture firms are investing in innovative technologies but are not fully utilizing them in their operations. He emphasized that incorporating novel data and automation into their processes sets Share Ventures apart.
His passion for health and longevity is deeply personal; following the loss of his mother at a young age, he became more aware of mortality and its implications on life choices.
Reflecting on his experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a commitment to innovation, sharing his determination to learn from past failures and embrace new challenges in entrepreneurship.