Hamet Watt, co-founder of MoviePass, is stepping away from the company’s well-documented struggles to launch a new venture studio aimed at supporting startups. He is now focusing his efforts on Share Ventures, which has successfully raised nearly $20 million in funding from prominent investors, including Alphabet and Amazon.
Watt, who originally introduced the concept of a subscription service for unlimited movie theater access in 2011, plans for Share Ventures to target startups in the areas of future work and longevity. He believes that the current landscape—shaped by advances in artificial intelligence and elevated interest rates—has created an opportunity for a unique approach to venture capital.
Watt noted that his company is developing proprietary software alongside advanced language models to enhance its operations, allowing for quicker identification of viable investment opportunities with less capital. He commented, “You don’t need as large of funds, and you can get signal on an opportunity much earlier with much less capital.”
He observed that while many venture firms are investing in new technologies, they often do not utilize them effectively within their own processes. Watt emphasized, “Using novel data and automation in our process is something we think is uniquely special to us.”
His interest in health and longevity is personal; he lost his mother to illness when he was just 25, an experience that profoundly impacted his perspective on life and health. In light of this, Watt is eager to innovate despite the setbacks faced with MoviePass, an experience he recounted in the documentary “MoviePass, MovieCrash.”
Watt concluded by reflecting on the lessons learned from his past and the courage it takes to pursue new ventures, saying, “What have I learned, and what do I have the guts to go out now and try — and maybe fail, but maybe succeed?”