Hamet Watt, co-founder of MoviePass, is moving forward from the company’s notable collapse and is now focusing on a new venture studio aimed at developing and funding startups.
Watt, who established MoviePass in 2011, which allowed movie enthusiasts to pay a monthly fee for unlimited theater access, is now dedicated to Share Ventures. The new venture has raised nearly $20 million, with significant investments from major players such as Alphabet and Amazon. Share Ventures is concentrating on startups in the areas of future work and longevity.
Watt believes that the current landscape, influenced by the AI boom and high interest rates, presents an opportunity for a distinctive venture capital model. He revealed that Share Ventures is developing its own software and advanced language models to optimize its internal operations, offering a more efficient approach to identifying investment opportunities with minimal capital.
He noted, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital. For us, that’s a great thing because we’re building companies from scratch and using all of the most advanced tools to do that proactively.”
Watt pointed out that while many venture firms are investing in new technologies, they are not fully utilizing them in their processes. He emphasized the uniqueness of using innovative data and automation.
His personal journey into health and longevity was influenced by the early loss of his mother at the age of 25, which profoundly impacted his perspective on life and mortality.
Reflecting on his experience with MoviePass and themes explored in the documentary “MoviePass, MovieCrash,” Watt expressed a willingness to learn from failure and continue innovating. He stated, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”