Hamet Watt, co-founder of MoviePass, is leaving behind the company’s notable downfall as he embarks on a new venture studio aimed at developing and funding startups. Watt, who established MoviePass in 2011 with the revolutionary idea of offering moviegoers a monthly subscription for unlimited theater access, is now focused on Share Ventures.
The new company has already raised nearly $20 million in funding, with investments from major players like Alphabet and Amazon. Watt revealed that Share Ventures intends to concentrate on startups within the realms of future work and longevity. He believes the current climate of an AI surge and elevated interest rates has created an opportunity for a uniquely structured venture capital model.
According to Watt, Share Ventures is not just identifying investment opportunities. The firm is also developing its own software and complex language models to enhance internal operations. He emphasized that smaller funds can yield faster insights into opportunities, allowing for the construction of companies from the ground up while leveraging cutting-edge tools.
Watt critiqued traditional venture firms for investing in new technologies without fully utilizing them in their processes. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at the age of 25, just 49 years old. This experience has compelled him to confront his own mortality.
Reflecting on his time with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” Watt expressed a commitment to innovation. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”