The co-founder of MoviePass is shifting focus from the company’s dramatic downfall to a new venture aimed at fostering startups. Hamet Watt, who launched MoviePass in 2011 with the concept of offering moviegoers unlimited theater access for a monthly fee, is now concentrating on Share Ventures.
Share Ventures has already raised nearly $20 million, attracting investments from major players like Alphabet and Amazon. Watt noted that the new venture aims to support startups related to the future of work and longevity.
He believes the current climate, marked by an AI boom and elevated interest rates, presents a prime opportunity for a unique investment model. Share Ventures is developing its own software and advanced language models to streamline its operations. Watt emphasized the benefit of smaller funds, which allow for earlier identification of investment opportunities with less capital.
Watt pointed out that while many venture firms are backing new technologies, they often do not fully integrate and utilize them in their operations. He expressed that their innovative use of data and automation is what sets Share Ventures apart.
His interest in health and longevity stems from a deeply personal experience; he lost his mother at a young age. This loss has profoundly impacted his perspective on life and mortality.
Reflecting on his past with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt sees his previous setbacks as motivation to continue innovating. He is now eager to explore new ventures, drawing from his experiences and lessons learned.