Hamet Watt, co-founder of MoviePass, is shifting his focus from the company’s dramatic downfall to launching a new venture studio aimed at supporting startups.
Watt, who introduced the innovative subscription model for movie access in 2011, is now leading Share Ventures, which has successfully raised nearly $20 million in funding from notable investors, including Alphabet and Amazon. The studio is concentrating on emerging businesses within the realms of future work and longevity.
Watt believes that the prevailing AI surge and elevated interest rates have created favorable conditions for a unique venture capital concept. As a result, Share Ventures is developing its own software alongside advanced language models to streamline its operations. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” Watt stated. This approach is beneficial for building new companies from the ground up while leveraging the latest technologies.
He pointed out that while many venture firms are investing in cutting-edge technologies, they often fail to adopt and utilize them effectively. “Using novel data and automation in our process is something we think is uniquely special to us,” he emphasized.
Watt’s interest in health and longevity stems from a personal tragedy; he lost his mother at the age of 25, an event that profoundly affected his perspective on mortality. “When you lose your mom at a young age, it forces you to think about your own mortality, in a way that I don’t know that I was conscious of at the time,” he reflected.
Despite the challenges faced with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate and explore new ventures. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he asked.