Hamet Watt, co-founder of MoviePass, is moving forward following the company’s notable decline and is now 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 working diligently at Share Ventures. The new company has attracted nearly $20 million in funding from notable backers, including Alphabet and Amazon. Watt explained that Share Ventures is concentrating on startups within the future of work and longevity sectors.
He believes the current landscape, marked by the rise of AI and elevated interest rates, provides an opportunity for a “differentiated model” approach in venture capital. This is why Share Ventures is developing its own software and complex language models to streamline internal operations.
Watt stated, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This strategy is advantageous for Share Ventures as it aims to build companies from the ground up using the most advanced tools available.
He noted that while many venture firms are investing in new technologies, they often do not fully integrate or utilize these innovations. “Using novel data and automation in our process is something we think is uniquely special to us,” Watt remarked.
His interest in health and longevity was sparked by a personal tragedy; he lost his mother at the age of 25 when she was only 49. This loss led him to reflect on his own mortality in a profound way.
Watt’s experiences with MoviePass, which he addressed in the documentary “MoviePass, MovieCrash,” have only fueled his determination to innovate. He shares his perspective on embracing both the risk of failure and the potential for success in future endeavors.