Hamet Watt, co-founder of MoviePass, is moving past the company’s notable failure and is now focused on raising capital for a new venture studio aimed at supporting startups.
Watt, who launched MoviePass in 2011, introduced the concept of a monthly subscription model for unlimited movie theater access. He is currently working with Share Ventures, which has successfully raised nearly $20 million with investors including Alphabet and Amazon. The new venture is concentrating on innovations in the future of work and longevity sectors.
He believes that the current environment, driven by advancements in AI and high interest rates, is conducive to a differentiated venture capital approach. Share Ventures plans to create its own software alongside intricate language models to enhance operational efficiency internally.
Watt emphasized that smaller funds can uncover potential opportunities with less capital, which benefits their strategy of building companies from the ground up by leveraging advanced technologies.
He pointed out that many venture firms are making investments in new technologies without fully integrating or utilizing them in their processes. He believes that employing unique data and automation in their approach sets Share Ventures apart.
Personal experiences have influenced Watt’s focus on health and longevity, especially his mother’s early death at the age of 49, which profoundly impacted his perspective on life and mortality.
Watt has also reflected on his experiences with MoviePass, which he explored in the documentary “MoviePass, MovieCrash,” using them as a source of motivation to continue pursuing innovation, embracing both the possibility of failure and success.