The co-founder of MoviePass, Hamet Watt, is moving forward from the company’s dramatic collapse by launching a new venture studio aimed at developing and funding startups. Watt, who introduced the innovative concept of a subscription service for unlimited movie access in 2011, is currently focused on his new company, Share Ventures.
Share Ventures has nearly secured $20 million in funding from notable backers, including Alphabet and Amazon. The firm aims to invest in startups within the fields of future work and longevity. Watt believes that the recent surge in AI technology and elevated interest rates have created opportunities for a more nuanced approach in venture capital, prompting Share Ventures to develop its own software and employ complex language models to enhance operational efficiency.
He stated that companies no longer require vast amounts of capital to assess opportunities and can identify potential much earlier with minimal investment. This shift allows Share Ventures to innovate and build startups from the ground up while utilizing advanced tools.
Watt emphasized that many venture firms are backing new technologies without fully integrating them into their own processes. He believes that leveraging unique data and automation sets Share Ventures apart.
His personal experience with loss has shaped his interest in health and longevity. Following the passing of his mother at the age of 49, Watt reflects on how that event profoundly impacted his perspective on life and mortality.
Having faced challenges with MoviePass, which he discussed in the documentary “MoviePass, MovieCrash,” Watt remains determined to innovate. He expressed a desire to learn from his past and pursue new ventures, embracing the possibility of both success and failure.