Hamet Watt, co-founder of MoviePass, is moving away from the company’s notorious downfall and is now focused on establishing a new venture studio aimed at fostering and financing startups.
Watt, who launched MoviePass in 2011 with the innovative concept of allowing unlimited movie access for a monthly fee, has been actively involved with Share Ventures. This new organization has successfully raised nearly $20 million, with notable investors such as Alphabet and Amazon. Watt has emphasized that Share Ventures will concentrate on startups connected to the future of work and the longevity sector.
He believes that the current landscape of venture capital is suitable for a “differentiated model.” This perspective arises from the ongoing AI revolution and high interest rates, which he claims enable early identification of opportunities with lesser capital investment. Watt views this as advantageous, as it allows for the development of companies from the ground up while leveraging advanced technologies.
Watt noted that many venture firms are exploring new technologies but often fail to incorporate and utilize them in their operations. He stressed that employing innovative data and automation throughout their process sets Share Ventures apart.
His personal experiences also drive his interest in health and longevity. After losing his mother at a young age, Watt reflected on mortality in a profound way, which has heavily influenced his current endeavors.
Despite the challenges faced with MoviePass, which he recently addressed in the documentary “MoviePass, MovieCrash,” Watt remains committed to pursuing innovation. He recognized that lessons learned from past failures fuel his determination to explore new ventures and potentially succeed where others might not.