Hamet Watt, co-founder of MoviePass, is moving forward after the company’s notable downfall and is now focused on raising capital for a new venture studio aimed at developing and funding startups.
Watt, who launched MoviePass in 2011, which allowed users to pay a monthly fee for unlimited movie theater access, has taken his efforts to Share Ventures. The new enterprise has already garnered nearly $20 million in investment, with notable backers like Alphabet and Amazon. Watt emphasized that Share Ventures will concentrate on startups within the future of work and longevity sectors.
He believes that the current landscape—marked by an AI surge and high interest rates—presents an opportunity for a uniquely differentiated venture capital model. Share Ventures is set to develop its own software and complex language models to streamline its internal operations. Watt stated that this approach allows for smaller investment amounts while providing early insights into potential opportunities.
Watt pointed out that many venture firms are investing in new technologies without fully integrating these advancements into their operations. He highlighted the importance of using innovative data and automation, which he believes gives Share Ventures a competitive edge.
His personal experiences also shape his business focus; after losing his mother at the young age of 25, Watt found himself contemplating mortality, which led to his interest in health and longevity.
Reflecting on his previous experience with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains undeterred by past failures. He is eager to embrace the challenge of innovation, stating, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”