Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable downfall and is currently seeking funds for a new venture studio aimed at supporting startups. Watt, who launched MoviePass in 2011 with the concept of offering moviegoers unlimited access to theaters for a monthly fee, has founded Share Ventures, which has already raised nearly $20 million from investors, including Alphabet and Amazon.
The focus of Share Ventures will be on startups in the fields of future work and longevity. Watt believes that the current AI boom and elevated interest rates create a favorable environment for a distinctive investment model. To this end, Share Ventures plans to develop its own software and utilize sophisticated language models to enhance its internal operations.
According to Watt, smaller funding requirements will allow for earlier detection of investment opportunities. “For us, that’s fantastic because we’re building companies from the ground up using the most advanced tools available,” he stated.
He pointed out that while many venture firms are investing in new technologies, they often do not incorporate these innovations into their own processes. Watt mentioned that adopting modern data and automation is a unique aspect of Share Ventures.
His personal experience with loss, particularly the death of his mother at the age of 49 when Watt was just 25, has also fueled his interest in health and longevity. “Losing my mom at a young age made me confront my own mortality, which is a perspective I didn’t fully grasp at the time,” he shared.
Watt has reflected on his previous setbacks with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash.” He remains undeterred by past failures, viewing them as learning experiences that inspire him to innovate once more. “What have I learned, and what do I have the guts to try now — possibly failing but hopefully succeeding?” he posed.