Hamet Watt, co-founder of MoviePass, is embarking on a new journey after the company’s notable decline, focusing on a venture studio aimed at developing and funding startups.
Watt, who introduced the idea of unlimited movie access for a monthly fee through MoviePass in 2011, has been actively working at his new initiative, Share Ventures. This company has attracted nearly $20 million in funding from notable investors, including Alphabet and Amazon. The venture is directed towards startups within the realms of the future of work and longevity.
Watt sees the current landscape, influenced by the AI surge and rising interest rates, as ideal for a “differentiated model.” Share Ventures is not only backing startups but is also developing its own software and complex language models to streamline internal operations. Watt believes this approach enables them to identify opportunities more efficiently and with less capital investment.
He highlights that many venture firms are backing new technologies without fully integrating and utilizing them in their operations. Watt emphasizes that leveraging innovative data and automation is a distinctive feature of Share Ventures.
His interest in health and longevity sparked from personal experience, having lost his mother at a young age, prompting him to contemplate his own mortality. This personal loss has inspired his current focus.
Reflecting on his past experiences with MoviePass, which he recently discussed in an HBO documentary titled “MoviePass, MovieCrash,” Watt remains motivated to innovate despite previous setbacks. He expresses a determination to embrace the opportunities and challenges ahead, ready to face the possibility of both failure and success.