Hamet Watt, a co-founder of MoviePass, is moving forward from the company’s notable downfall to launch a new venture studio aimed at developing and funding startups. Watt, who introduced the concept of a monthly subscription for unlimited movie access via MoviePass in 2011, has been actively working on Share Ventures.
The new venture has raised nearly $20 million, with notable backers including Alphabet and Amazon. Share Ventures plans to target startups focused on the future of work and longevity. Watt believes that the current landscape, influenced by advancements in AI and high-interest rates, presents an opportunity for a unique venture capital model. He stated that the integration of their own software and sophisticated language models will allow them to streamline internal processes.
Watt conveyed the idea that smaller funding amounts could enable earlier identification of promising opportunities. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he explained, emphasizing their approach to building companies from the ground up with advanced tools.
He also highlighted that while venture firms are investing in new technologies, many are not fully utilizing them in their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” Watt remarked.
His interest in health and longevity was deeply influenced by the loss of his mother at a young age, which prompted him to reflect on mortality and the importance of these fields. Despite the challenges he faced with MoviePass, which was discussed in the recent documentary “MoviePass, MovieCrash,” Watt remains determined to pursue innovation. “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.