Synopsis: 

Venture capital is evolving, and so is biotech. In this episode of Biotech 2050, host Alok Tayi, CEO and co-founder of VibeBio, sits down with Alex Bangash, Founder of Transpose, an investment firm backing both startups and funds.
With over 20 years of experience in venture investing, Alex shares his unconventional journey from engineering to investing and how his unique perspective has shaped his approach to funding. He breaks down the shifting startup landscape, the critical role of LPs in biotech, and why AI is a game-changer for both tech and life sciences.
Alex also offers sharp insights into what it takes to build a successful venture fund today and the structural shifts that are redefining the industry. Whether you're a founder, investor, or biotech enthusiast, this episode is packed with valuable lessons on navigating the future of venture capital.

Biography:

Alex Bangash is the Founder of Transpose Platform, an anchor fund for the most disruptive venture funds of this decade. He is also the co-founder and former CEO of Trusted Insight, a machine learning–driven platform that hosts the world’s largest network of institutional investors. Prior to TI Platform, Alex managed capital for clients at premier endowments, foundations, family offices, insurance firms, sovereign wealth funds, and pension funds since 2003. He has helped invest over $2 billion in 50 funds with a track record of investing over $1 billion in 50+ funds for institutional investors with an IRR of 30%+ and a 2x NAV. He advised the first checks in Accel, First Round Capital, Founders Fund, Emergence, Y Combinator, Khosla, SaaStr, Initialized, Crystal Towers, and Baseline. Earlier in his career, Alex was an engineer and executive at AT&T, Lucent Technologies, Bell Labs, and GE. Alex holds an MBA from the Wharton School (where he is a frequent guest lecturer); an M.Eng. in Operations Research from Cornell, and a BS in Computer Science, English, and Economics from Cornell.

AI, Biotech, & Venture Capital: Alex Bangash, Founder of Transpose, on Future of Startup Investing

A thought leader and pioneer in platforms and ecosystems, partner at Speed Invest and an instructor at Reforge, Sameer Singh joins us on this episode to reintroduce the world of platforms, challenge the idea of AI as a platform shift, and talk about what makes products truly memorable in a market over-proliferated with choices. 
He helps us “Separate signals from the noise,” and shares his practical insights into what makes today’s startups investable: from founders with missionary zeal to data-informed decision-making, and so much more. 
For anyone curious about the intersection of AI-enabled consumer experiences and the evolving world of platforms, this episode is a must-listen.

Sameer brings deep expertise in platforms with a sharp focus on scalable distribution models, retention, and core problem-solving.
In this episode, he discusses his recent investments, framing generative AI as a powerful layer within the technology stack - that can unlock new forms of multiplayer interactions and creative experiences.
As always, he shares practical insights for entrepreneurs navigating the evolving landscape of marketplaces, social products, and what the future looks like for AI-enabled consumer experiences.

Key Highlights
👉 True network effects are mathematically grounded and don’t change across technological eras.
👉Generative AI: is it a technology stack or a platform shift?
👉 Single-user AI interactions do not inherently generate network effects. True network effects arise from unique, structured multiplayer interactions.
👉 In consumer tech, founder background is less predictive of success; what matters more is the founder’s obsession with the problem and willingness to learn, and understand user behaviour.
👉For meaningful innovation, AI should enable new experiences or multiplayer interactions under the surface, rather than being exposed as a chat interface or standalone product. Direct, one-click AI interactions often reduce value and break potential network effects.
👉 A true platform combines a usable product, developer tools, a way to match users with applications, and an economic incentive for developers.

Topics /chapters
(00:00) Network Effects, Generative AI, and Platform Shifts 
(01:22) Introducing Sameer Singh
(03:07) Sameer’s Journey in Perspective
(07:16) What is changing in consumer companies?
(09:40) How do incumbent companies build for younger buyers?
(11:04) AI and Platform Shifts
(18:01) Building Solutions on GenerativeAI platforms
(24:26) AEO and LLMs as a Distribution Channel
(26:52) Does more content mean more action
(29:41) Scepticism on AI Frenzy
(37:59) Common threads among investable platform companies
(44:09) Where does value lie in a Consumer Market
(47:37) Breadcrumbs and Suggestions

Remember that you can always find transcripts and key highlights of the episode on our website: https://www.boundaryless.io/podcast/singh-sameer

Episode recorded on Sep 17, 2025

Find out more about the show and the research at Boundaryless at https://boundaryless.io/resources/podcast/

Get in touch with Boundaryless:

Twitter: https://twitter.com/boundaryless_
Website: https://boundaryless.io/contacts
LinkedIn: https://www.linkedin.com/company/boundaryless-pdt-3eo

Music
Music from Liosound / Walter Mobilio. Find his portfolio here: https://blss.io/Podcast-Music

#126 - Network Effects, Generative AI, and Platform Shifts with Sameer Singh

Boundaryless helps global customers with Business Strategy and Organization Design for the age of Ecosystems.
We do it by creating openly accessible frameworks and by supporting a community of organizations, institutions, and individuals through workshops, training, and consulting services. 

In this space we host all our audio recordings, including the Boundaryless Conversations podcast, a show focused on exploring the future of large scale organising by leveraging on technology, network effects and shaping narratives. We explore how platforms can help us play with a world in turmoil, change, and transformation: a world that is at the same time more interconnected and interdependent than ever but also more conflictual and rivalrous. 

We used to be online at platformdesigntoolkit.com... now find us on our new website: www.boundaryless.io!

Email: hello@boundaryless.io

Biotech2050 Podcast is a think tank chronicling the disruptions changing the biotech industry over the next 50 years.

New tracks tagged #TechInvesting