Hamet Watt, co-founder of MoviePass, is moving beyond the company’s former challenges to raise capital for a new venture studio aimed at developing and funding startups. Watt, who initially launched MoviePass in 2011, has established Share Ventures, which has already secured nearly $20 million from investors including Alphabet and Amazon.
The new venture will concentrate on startups in the fields of work innovation and longevity. Watt believes that the current AI boom and high interest rates create an environment ripe for a unique venture capital model. Share Ventures plans to develop its own software and advanced language models to streamline its operations.
Watt explained that with innovative approaches, smaller funds can identify potential opportunities with less capital, allowing for the creation of companies from the ground up using cutting-edge tools.
He noted that while many venture firms are investing in new technologies, few are actively utilizing them in their processes, which he views as a distinguishing factor for Share Ventures.
Watt’s personal experience with loss, having lost his mother at a young age, has significantly influenced his interest in health and longevity. He remarked that this early loss prompted him to contemplate his own mortality.
Reflecting on the failure of MoviePass, which he recently shared insights about in the documentary “MoviePass, MovieCrash,” Watt expressed that these experiences invigorate his desire to innovate and take risks in new ventures.