The co-founder of MoviePass is pivoting from the company’s notable downfall to focus on a new venture studio aimed at developing and funding startups.
Hamet Watt, who founded MoviePass in 2011 with the concept of offering moviegoers unlimited access to theaters for a monthly fee, has been working diligently at Share Ventures. This new company has attracted nearly $20 million in funding from notable investors including Alphabet and Amazon. Watt stated that Share Ventures is concentrating on startups in the fields of work innovation and longevity.
He expressed that the current landscape, influenced by the AI boom and elevated interest rates, presents an opportunity for a differentiated venture capital model. To this end, Share Ventures is developing its own software and utilizing advanced language models to enhance its internal operations.
Watt remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” highlighting the benefits of their proactive approach to building companies from the ground up.
He also mentioned that while many venture firms are investing in new technologies, they often do not fully integrate or utilize these advancements in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he noted.
Watt’s interest in health and longevity was sparked by a personal tragedy; losing his mother at the age of 25, when she was just 49, made him contemplate mortality in a deeper way.
Reflecting on his past with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” he emphasized that his experiences have only fueled his desire to innovate. “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.