Hamet Watt, co-founder of MoviePass, is moving on from the company’s tumultuous past to focus on a new venture studio aimed at developing and funding startups. Watt, who launched MoviePass in 2011 with the innovative concept of offering unlimited movie theater access for a monthly fee, is now working on Share Ventures.
Share Ventures has successfully secured nearly $20 million in funding from notable investors, including Alphabet and Amazon. The company aims to target startups that are centered on the future of work and longevity.
Watt believes that the current environment of artificial intelligence advancements and high interest rates has created an opportunity for a unique venture capital model. As a result, Share Ventures is developing its own software and employing sophisticated language models to streamline its operations. He emphasized that this approach allows for smaller funding requirements and the ability to identify potential opportunities more quickly.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.” This model works in Share Ventures’ favor as they focus on building new companies with cutting-edge tools.
While many venture firms are investing in new technologies, Watt expressed that they often do not fully integrate these advancements into their operations. “Using novel data and automation in our process is something we think is uniquely special to us,” he stated.
Watt’s interest in health and longevity is deeply personal, stemming from the loss of his mother at a young age. Her passing at 49 years old left a lasting impression on him, prompting reflection on mortality.
In discussing his previous experience with MoviePass, which has been highlighted in the documentary “MoviePass, MovieCrash,” Watt expressed a commitment to continuous innovation. He shared, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”