Hamet Watt, the co-founder of MoviePass, is moving on from the company’s dramatic decline to focus on a new venture studio aimed at developing and funding startups.
Watt, who introduced MoviePass in 2011 to allow moviegoers unlimited theater access for a monthly fee, has been diligently working on Share Ventures. The startup has already raised nearly $20 million, with investment support from major backers like Alphabet and Amazon. Share Ventures is particularly interested in startups within the future of work and longevity sectors.
He believes that the current landscape, shaped by the rise of artificial intelligence and high interest rates, is ideal for a “differentiated model” in venture capital. This outlook has led Share Ventures to develop its own software and complex language models to streamline its internal processes.
Watt emphasized the shift in capital needs, saying, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This approach allows them to build new companies from the ground up while utilizing cutting-edge tools proactively.
He pointed out that while many venture firms are investing in these emerging technologies, few are actively integrating them into their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
Watt’s interest in health and longevity was sparked by a personal tragedy—the loss of his mother at the age of 25, just 49 years old. This experience profoundly shaped his perspective on mortality and purpose.
Reflecting on his past with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” he views his setbacks as a driving force for innovation. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” Watt expressed.