The co-founder of MoviePass is transitioning from the company’s notable collapse to focus on a new venture studio aimed at developing and funding startups. Hamet Watt, who launched MoviePass in 2011 with a vision of allowing moviegoers to enjoy unlimited theater access for a monthly fee, is now leading Share Ventures.
The new firm has successfully gathered nearly $20 million in funding from investors, including Alphabet and Amazon. Watt stated that Share Ventures is concentrating on startups within the future of work and longevity sectors.
He highlighted that the current landscape, influenced by the AI boom and elevated interest rates, presents an opportunity for a distinctive venture capital model. To this end, Share Ventures is developing its own software alongside advanced language models to streamline its internal operations.
Watt emphasized that smaller funds can enable quicker evaluations of opportunities with less capital, which aligns well with their approach to building companies from the ground up using advanced tools.
He noted that many venture firms are investing in new technologies but are not fully utilizing them. Watt believes that incorporating innovative data and automation into their processes sets Share Ventures apart.
His personal experience shaped his interest in health and longevity, particularly following the loss of his mother at the age of 25. This loss, occurring when she was just 49, prompted him to reflect on mortality in ways he had not considered before.
Watt’s experiences with MoviePass, which he recently explored in the documentary “MoviePass, MovieCrash,” have fueled his determination to continue innovating despite past setbacks. He is driven by the desire to learn from failures and explore new ventures with the possibility of success.