Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s notable collapse to launching a new venture studio aimed at developing and funding startups.
In 2011, Watt introduced MoviePass, allowing moviegoers to enjoy unlimited theater access for a monthly fee. He has since been working on Share Ventures, which has successfully raised nearly $20 million in funding from prominent investors, including Alphabet and Amazon. This new initiative will concentrate on startups in sectors related to the future of work and longevity.
Watt believes that the rise of artificial intelligence and the current economic climate have created an opportune environment for a unique venture capital model. To capitalize on this, Share Ventures plans to develop its own software and utilize advanced language models to streamline its internal processes. He emphasized that having smaller funds can enable faster identification of opportunities with less initial investment.
Watt noted that many venture firms are investing in new technologies without fully integrating or utilizing them. He believes that leveraging innovative data and automation in their operations sets Share Ventures apart.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at the age of 25 when she was just 49. This experience profoundly impacted his perspective on mortality.
Reflecting on his experiences with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed a determination to continue innovating despite past failures. He is committed to moving forward, remaining open to both success and potential setbacks.