Hamet Watt, the co-founder of MoviePass, is moving past the company’s well-known downfall and is now focused on launching a new venture studio aimed at developing and funding startups. Watt, who started MoviePass in 2011 with the innovative concept of offering consumers unlimited access to movies for a monthly fee, is now working diligently at Share Ventures.
The new company has already raised nearly $20 million in funding, with support from major investors such as Alphabet and Amazon. Watt indicated that Share Ventures is concentrating on startups related to future work and longevity.
He expressed that recent trends, including the rise of artificial intelligence and high interest rates, have created an environment ripe for a unique business model. Share Ventures intends to develop its own software and utilize complex language models to automate various internal operations.
Watt remarked, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” He believes this approach allows them to build companies from the ground up while leveraging cutting-edge tools for proactive development.
He noted that while many venture firms are investing in new technologies, few are genuinely implementing and utilizing these advancements in their operations.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at the age of 25. This experience has driven him to contemplate mortality in a profound way.
Reflecting on his previous experience with MoviePass, which he discussed in the recent documentary “MoviePass, MovieCrash,” Watt said that the lessons learned from that venture motivate him to continue innovating. He emphasized his willingness to embrace the potential for both failure and success in new endeavors.