Hamet Watt, co-founder of MoviePass, is pivoting from the company’s infamous decline to embark on a new journey with Share Ventures, a startup studio dedicated to developing and funding innovative companies.
Watt, who launched MoviePass in 2011 with the groundbreaking concept of offering unlimited movie access for a monthly subscription, recently disclosed to Business Insider that he is focused on raising capital for Share Ventures, which has already attracted nearly $20 million from investors, including tech giants Alphabet and Amazon. The new venture aims to target startups in the realms of future work and longevity.
He believes that the current environment, marked by the AI boom and elevated interest rates, presents a ripe opportunity for a differentiated investment model. To facilitate this, Share Ventures plans to develop its own software and utilize advanced language models to enhance internal operations.
Watt noted that with smaller funds, investors can identify promising opportunities much earlier and with less capital, allowing for the focused growth of new businesses. He emphasized the uniqueness of their approach, stating that while many venture firms are investing in emerging technologies, few fully incorporate and utilize them in their processes.
His passion for health and longevity was ignited by the loss of his mother at the young age of 25, a personal tragedy that shaped his perspective on life and mortality.
Reflecting on his experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to learn from past failures and continue to innovate, driven by the courage to take risks in pursuit of success.