Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s notable decline. He is now focused on Share Ventures, a startup studio devoted to developing and funding innovative businesses.
Watt, who pioneered the concept of a subscription service for unlimited movie access in 2011, recently shared details about his new venture with Business Insider. Share Ventures has successfully acquired nearly $20 million in funding, with notable investors including Alphabet and Amazon. The studio aims to concentrate on startups in the areas of future work and longevity.
Watt believes that the current environment, influenced by the AI surge and elevated interest rates, offers a ripe opportunity for a distinct venture capital model. Share Ventures plans to integrate its own software and advanced language models to streamline its operations, thereby allowing for early identification of investment opportunities with less capital.
He underscored the importance of utilizing innovative data and automation, stating that many venture firms are investing in new technologies but may not be fully employing them within their own processes.
Watt’s personal experiences have also driven his focus on health and longevity; he lost his mother at a young age, at just 49. This early loss made him more aware of mortality, prompting him to explore these themes further.
Reflecting on his past with MoviePass, which was recently featured in the documentary “MoviePass, MovieCrash,” Watt views his prior challenges as motivation for future innovation. He remains committed to learning from past experiences and is encouraged by the prospect of future success, despite the risk of potential failure.