The co-founder of MoviePass, Hamet Watt, is transitioning from the company’s notorious downfall to establish a new venture studio aimed at nurturing and funding startups. Watt, who launched MoviePass in 2011, introduced a subscription model that allowed movie enthusiasts unlimited access to theaters for a monthly fee. He recently shared insights regarding his new venture, Share Ventures, in an interview.
Share Ventures has already attracted nearly $20 million in investment, with notable supporters including Alphabet and Amazon. Watt’s current focus is on startups in the fields of future work and longevity.
He believes that the current landscape, characterized by the AI surge and elevated interest rates, presents an opportune moment for a unique investment model. Share Ventures plans to develop its own software and intricate language models to enhance internal operations.
Watt emphasized that smaller funds are sufficient for early-stage investments, which allows for quicker recognition of opportunities with limited capital. This approach is particularly advantageous as Share Ventures aims to build companies from the ground up using the latest tools.
He also pointed out that while many venture capital firms are investing in emerging technologies, they often fail to integrate and utilize them effectively. Watt sees the use of innovative data and automation in their processes as a distinguishing factor for Share Ventures.
Watt’s interest in health and longevity was sparked by the loss of his mother at the age of 25, an experience that profoundly influenced his perspective on mortality.
Reflecting on his experience with MoviePass, which he recently discussed in the HBO documentary “MoviePass, MovieCrash,” Watt remains motivated to innovate despite past challenges. He conveyed a sense of determination to embrace new ventures, acknowledging both the potential for failure and the possibilities for success.