Hamet Watt, a co-founder of MoviePass, is moving forward from the company’s significant downfall and is now focused on launching a new venture studio aimed at supporting and funding startups.
Watt, who started MoviePass in 2011 with the revolutionary concept of allowing moviegoers to pay a monthly fee for unlimited access to theaters, has been diligently working on Share Ventures. This new initiative has already raised nearly $20 million, with notable investors such as Alphabet and Amazon backing it. The focus of Share Ventures is on startups within the realms of the future of work and longevity.
He believes that the current landscape of high interest rates and the surge in artificial intelligence has created an opportunity for a unique venture capital model. Share Ventures is set to create its own software and advanced language models to streamline its operations. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt explained. “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.”
Watt pointed out that while many venture firms are investing in emerging technologies, they are not incorporating these innovations into their operations. He emphasized that the use of innovative data and automation is a distinctive approach for Share Ventures.
His personal journey into health and longevity was sparked by the loss of his mother when he was just 25 years old. She passed away at the age of 49, an experience that forced him to confront his own mortality at an early age.
Reflecting on his experience with MoviePass, which he recently examined in the documentary “MoviePass, MovieCrash,” Watt expressed that his past failures motivate him to continue innovating. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he said.