The co-founder of MoviePass, Hamet Watt, is moving past the company’s notable collapse and is now working on a new venture studio aimed at developing and funding startups. Watt played a key role in establishing MoviePass in 2011, advocating for a subscription model that granted moviegoers unlimited access to theaters for a monthly fee.
In an interview with Business Insider, Watt shared that his new company, Share Ventures, has raised nearly $20 million in funding with support from major investors including Alphabet and Amazon. The focus of Share Ventures is on startups related to the future of work and longevity.
Watt noted that the current landscape, marked by an AI surge and high interest rates, presents a unique opportunity for a “differentiated model” in venture capital. As part of this strategy, Share Ventures is developing its own software and complex language models to streamline internal processes.
He emphasized that smaller funds can now provide early insights into opportunities with significantly less capital. This aligns with Share Ventures’ goal of building companies while leveraging advanced tools.
Watt pointed out that while many venture firms are investing in new technologies, they often do not utilize or embody them in their operations. He believes that incorporating innovative data and automation gives Share Ventures a unique advantage.
His personal interest in health and longevity was sparked by the loss of his mother at a young age, prompting him to reflect on mortality. Watt’s experience with the failure of MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” only fuels his drive to innovate further.
Watt concluded by expressing his motivation to learn from his past experiences and the courage to continue pursuing new ventures, whether they lead to success or failure.