Hamet Watt, the co-founder of MoviePass, is embarking on a new journey after the company’s notable collapse. He is raising funds for a new venture studio called Share Ventures, aimed at developing and financing startups.
Watt, who initially introduced the concept of a subscription service for unlimited movie theater access in 2011, has announced that Share Ventures has successfully raised nearly $20 million, with investment backing from major companies including Alphabet and Amazon. The new venture will focus on startups in the fields of future work and longevity.
Watt believes that the current trends, including the rise of artificial intelligence and increased interest rates, have created an opportunity for a unique venture capital approach. Share Ventures plans to integrate cutting-edge software and complex language models to enhance its operations and facilitate the creation of new companies.
He noted that smaller venture funds can offer insights on opportunities earlier and with less capital. This model aligns with Share Ventures’ strategy of building companies from the ground up using advanced tools for proactive development.
Watt observed that while many venture firms are investing in emerging technologies, few are effectively incorporating these innovations into their own processes. He expressed that leveraging novel data and automation is a key differentiator for his approach.
His interest in health and longevity stems from a personal tragedy; he lost his mother at the age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his past experiences, particularly with MoviePass, Watt sees failure as a stepping stone to innovation. He shared his determination to embrace new challenges and the possibility of both failure and success in his future endeavors.