Hamet Watt, co-founder of the now-defunct MoviePass, is embarking on a new journey by launching Share Ventures, a venture studio dedicated to developing and funding startups. Having established MoviePass in 2011, which allowed moviegoers to pay a monthly fee for unlimited theater access, Watt is now focused on the future of work and longevity sectors.
Share Ventures has already attracted nearly $20 million in funding, with notable backers including tech giants Alphabet and Amazon. Watt believes the current landscape, shaped by the AI boom and rising interest rates, presents an opportunity for a unique investment model. He emphasized that Share Ventures is creating its own software and utilizing advanced language models to streamline internal processes.
Watt stated that the new approach allows for smaller funds and quicker insights on investment opportunities, enabling the company to build startups from the ground up using cutting-edge tools. He noted that while many venture firms are investing in emerging technologies, they often do not fully integrate these innovations into their operations.
Driven by personal loss, including the death of his mother at a young age, Watt has developed a keen interest in health and longevity. He reflected on how this loss impacted his perspective on mortality and inspired his current endeavors.
Watt’s experiences with the failure of MoviePass have strengthened his resolve to innovate and pursue new projects, highlighting the importance of learning from past challenges.