Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new journey by raising funds for a startup venture studio aimed at developing and supporting emerging companies. Watt, who initially revolutionized movie-going in 2011 with the concept of unlimited theater access for a monthly fee, is currently focused on his new company, Share Ventures.
Share Ventures has already attracted nearly $20 million in funding from prominent investors including Alphabet and Amazon. The studio is specifically looking to invest in startups related to the future of work and longevity sectors.
According to Watt, the current landscape shaped by the AI boom and elevated interest rates presents a favorable environment for innovative investment approaches. He stated that Share Ventures is building proprietary software and implementing complex language models to streamline its internal operations.
Watt emphasized the advantage of being able to identify potential opportunities with smaller amounts of capital. “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital,” he explained. This agility allows Share Ventures to create companies from the ground up while utilizing advanced technological tools.
He noted that many venture capital firms are exploring new technologies but fail to effectively integrate and utilize them within their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he added.
Watt’s interest in health and longevity is personal, rooted in the loss of his mother when he was just 25 years old. Her passing at 49 prompted him to contemplate his own mortality and the importance of health.
Reflecting on his experience with MoviePass, which was the subject of a recent documentary titled “MoviePass, MovieCrash,” Watt conveyed that setbacks have only fueled his determination to innovate. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he remarked.