Hamet Watt, co-founder of the now-defunct MoviePass, is shifting his focus toward new ventures as he raises funds for a startup studio aimed at supporting and developing emerging businesses.
Watt, who helped launch MoviePass in 2011 with the vision of providing unlimited movie access for a monthly fee, has recently been working on Share Ventures. The new company has already attracted nearly $20 million in funding from investors including Alphabet and Amazon, and is concentrating on startups in the areas 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 “differentiated model” in venture capital. Share Ventures aims to create its own software and leverage complex language models to streamline its internal operations.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt expressed that while many venture firms are investing in groundbreaking technologies, they often do not actively engage with them. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
His personal journey into health and longevity was influenced by the loss of his mother at just 49 years old when he was only 25. This experience has shaped his perspective on mortality and the importance of health.
Reflecting on his past with MoviePass, which has been covered in the documentary “MoviePass, MovieCrash,” Watt feels a renewed motivation to innovate despite the previous setbacks. “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?” he concluded.