Hamet Watt, co-founder of MoviePass, is moving on from the company’s significant downfall and is focused on raising funds for a new venture studio aimed at developing and supporting startups.
Watt, who launched MoviePass in 2011 with the concept of offering moviegoers unlimited access to theaters for a monthly fee, has been diligently working at Share Ventures. This new company has already attracted nearly $20 million in funding, with support from major investors such as Alphabet and Amazon. Watt explained that the focus of this venture is on startups related to the future of work and longevity.
He believes that the current landscape of venture capital, influenced by the surge of artificial intelligence and high interest rates, is primed for a unique approach. Share Ventures plans to create its own software and advanced language models to streamline its operations, making it possible to identify investment opportunities with less capital and earlier in the process.
Watt noted that while many venture firms are investing in emerging technologies, they are not effectively utilizing them in their operations. He emphasized that employing innovative data and automation in their strategy is what sets Share Ventures apart.
His interest in health and longevity was sparked by personal experiences, specifically the loss of his mother at the age of 25, when she was only 49. This experience prompted him to contemplate mortality in ways he had not previously considered.
Despite the challenges faced by MoviePass, which he recently reflected on in the documentary “MoviePass, MovieCrash,” Watt remains determined to pursue 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?”