The co-founder of MoviePass, Hamet Watt, is moving forward from the company’s notable decline by launching a new venture studio aimed at nurturing and funding startups. Watt, who originally conceived MoviePass in 2011, is now focused on his new initiative, Share Ventures, which has raised nearly $20 million from investors, including major players like Alphabet and Amazon.
Share Ventures is concentrating on startups within the realms of future work and longevity. Watt believes that the current landscape, shaped by advancements in artificial intelligence and high interest rates, presents an opportunity for a unique approach to venture capital. He remarked that this landscape allows for earlier identification of opportunities with less capital, enabling the creation of companies from the ground up while employing advanced tools and technologies.
Watt emphasized that while many venture firms are investing in emerging technologies, few are integrating and utilizing them in their operations. He sees the incorporation of novel data and automation as a distinctive aspect of Share Ventures’ methodology.
Watt’s personal experiences have driven his interest in health and longevity, especially following the loss of his mother at a young age. He reflected on how this loss prompted him to consider his own mortality in a profound way.
Despite the challenges faced with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains undeterred and motivated to pursue new innovations, expressing a willingness to embrace both the potential for failure and success in his entrepreneurial journey.