Hamet Watt, a co-founder of MoviePass, is moving on from the company’s dramatic downfall and is actively raising funds for a new venture studio aimed at supporting and developing startups.
Watt, who launched MoviePass in 2011 with the concept of allowing moviegoers to pay a monthly fee for unlimited theater access, has established Share Ventures. This new endeavor has successfully secured nearly $20 million in funding from notable investors, including Alphabet and Amazon. Share Ventures is particularly focused on startups operating in the realms of future work and longevity.
Watt believes that the current environment, influenced by the surge in artificial intelligence and rising interest rates, presents an opportunity for a differentiated investment model. This has led Share Ventures to develop its own software and complex language models to enhance its operations. He explained to Business Insider that smaller funds are now more viable, and earlier signals on potential opportunities can be identified with less capital. This approach allows them to construct companies from the ground up while utilizing advanced tools effectively.
He remarked that although many venture firms are investing in cutting-edge technologies, they often do not fully incorporate these innovations into their own operations. Watt emphasized that their unique approach—leveraging novel data and automation—is what sets Share Ventures apart.
Watt’s interest in health and longevity stems from personal tragedy, as he lost his mother at a young age. This experience has profoundly influenced his perspective on life and mortality.
Reflecting on his past with MoviePass, which he recently examined in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue innovating despite previous setbacks. He is committed to exploring new ventures, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”