Hamet Watt, co-founder of MoviePass, is moving forward from the company’s dramatic downfall and is actively raising funds for a new venture studio aimed at developing and financing startups.
Watt, who introduced the concept of a subscription service for unlimited movie theater access in 2011, has been working diligently at Share Ventures. This new venture has almost secured $20 million in funding, attracting support from major investors including Alphabet and Amazon. Share Ventures will concentrate on startups within the realms of future work and longevity.
Watt believes that the current landscape, shaped by the AI boom and rising interest rates, has created an opportunity for a distinct venture capital model. His company is not only investing but also creating its own software and complex language models to streamline internal processes.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He emphasized that this approach is beneficial for building companies from the ground up using advanced tools.
Watt pointed out that while many venture firms are investing in emerging technologies, few are actually integrating and utilizing them effectively in their operations. He remarked, “Using novel data and automation in our process is something we think is uniquely special to us.”
Watt’s interest in health and longevity arose after experiencing the loss of his mother at a young age, a personal event that had a profound impact on his perspective on mortality.
Reflecting on his journey, he expressed, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”