Hamet Watt, co-founder of MoviePass, is stepping away from the company’s tumultuous history and is now focused on raising funds for a new venture studio aimed at supporting startups. Watt, who co-founded MoviePass in 2011 to provide consumers with unlimited access to theaters for a monthly fee, is currently leading Share Ventures, which has recently garnered nearly $20 million in funding from notable investors including Alphabet and Amazon.
Watt aims to concentrate on startups in the fields of future work and longevity. He believes that the current climate of high interest rates and the AI boom has created an opportunity for a unique venture capital model. Share Ventures plans to develop its own software and leverage complex language models to streamline its internal operations.
Watt explained that with smaller funds, investors can identify opportunities earlier with less capital, allowing for the development of companies from the ground up with advanced tools. He remarked that while many venture firms are investing in new technologies, few are effectively utilizing them within their own operations.
His personal experience has also shaped his focus on health and longevity, having lost his mother at a young age. This loss has profoundly impacted his perspective on life and mortality.
Reflecting on his time with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” Watt expressed a determination to learn from past experiences and continue innovating despite potential failures.