Hamet Watt, the co-founder of MoviePass, is moving on from the company’s dramatic downfall and is now seeking investments for a new venture studio aimed at developing and funding startups.
Watt, who launched MoviePass in 2011 with the concept of providing moviegoers with unlimited access to theaters for a monthly fee, recently told Business Insider that he has been focused on establishing Share Ventures. The new venture has already secured nearly $20 million in funding from prominent investors, including Alphabet and Amazon. Watt indicated that Share Ventures is concentrating on startups within the realms of future work and longevity.
With the current rise of artificial intelligence and prevailing high interest rates, Watt believes the venture capital landscape is ready for a “differentiated model.” He explained that Share Ventures is not only investing in startups but also developing its own software and complex language models to streamline internal operations.
Watt emphasized, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He views this as advantageous, especially since they are building companies from the ground up while leveraging advanced tools.
He noted, “Many venture firms are putting money into new technologies but aren’t integrating or utilizing them themselves.” Watt believes that incorporating unique data and automation into their processes sets Share Ventures apart.
His interest in health and longevity stems from a personal loss; he lost his mother at the age of 25 when she was just 49. This experience deeply influenced his perspective on mortality.
Watt, reflecting on his MoviePass journey, which he recently explored in the documentary “MoviePass, MovieCrash,” stated that his setbacks only serve as motivation to continue innovating. He remarked, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”