Hamet Watt, co-founder of MoviePass, is moving on from the company’s dramatic downfall and is currently focused on raising funds for a new venture studio aimed at supporting startups. Watt, who introduced the idea of a subscription model for unlimited movie access in theaters with MoviePass in 2011, is now working on Share Ventures.
The new venture has amassed nearly $20 million in funding from investors, including major players like Alphabet and Amazon. Watt has indicated that Share Ventures will concentrate on startups within the work and longevity sectors.
He believes the current landscape, characterized by an AI boom and rising interest rates, has created an opportunity for a “differentiated model” in venture capital. Share Ventures plans to develop its own software and utilize complex language models to optimize internal operations. Watt explained that smaller funds allow for early signals on investment opportunities with less capital, which aligns well with their strategy of building companies from the ground up using advanced technology.
Watt pointed out that while many venture firms are investing in new technologies, they often do not apply these innovations in their own operations. He emphasized that their unique approach involves leveraging novel data and automation throughout their processes.
Watt’s interest in health and longevity is deeply personal, stemming from the loss of his mother when he was just 25 years old. This experience has influenced his perspective on mortality and innovation in the health sector.
Reflecting on his challenging experience with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt expressed his determination to continue exploring new ventures despite past failures. He is driven by a desire to learn from his experiences and take bold steps in his future endeavors.