The co-founder of MoviePass, Hamet Watt, is moving forward after the company’s significant decline and is now working on a new venture studio aimed at supporting startups. Watt, who introduced the concept of unlimited movie access for a monthly fee in 2011, has established Share Ventures, which has successfully raised nearly $20 million in funding from investors including Alphabet and Amazon.
Watt’s new initiative is particularly focused on companies involved in the future of work and longevity sectors. He believes the current landscape, shaped by advancements in AI and high interest rates, presents a ripe opportunity for investment models that stand out from traditional VC approaches. Share Ventures plans to enhance its operations by developing proprietary software and sophisticated language models to streamline internal processes.
Watt expressed that with the right tools, businesses can identify promising opportunities with less capital. He emphasized that while many venture firms are investing in technological innovations, they often do not fully integrate these advancements into their operations.
His interest in health and longevity is deeply personal, stemming from the loss of his mother at a young age, which has influenced his perspective on mortality and innovation. Reflecting on the challenges faced with MoviePass, he maintains a resilient attitude, eager to leverage his experiences for future successes.