Luis Laboy, Director of Public Equities at the Hewlett Foundation, discusses how technological disruption and AI adoption impact public market investments across traditional sectors.
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“It's no longer about tech versus the rest of the world. Old economy names are now going to differentiate themselves based on how they apply tech.”
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More from Luis Laboy
Insight
Laboy: Direct investors in LP roles must recalibrate their decision cadence
“There's a difference in cadence in decision making, even in the amount of research and analysis you do for every decision. You're calibrating that all the time. And I had perfected that for a high turnover world of direct investing. And when you move over to t…”
Luis LaboyJul 20, 2026▶ 24:13Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)
Insight
Laboy: Allocators should never second-guess managers during due diligence
“The goal is To ask managers questions that hopefully create new thoughts, but you never want to come across like you're second guessing a manager. That's not our job. Our job is to understand them and to understand whether our strategies are aligned.”
Luis LaboyJul 20, 2026▶ 26:02Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)
Disclosure
Laboy: Hewlett Foundation reduced value manager exposure during the COVID pandemic
“We ended up starting to reduce our exposure to, for example, value managers. We thought value would just be a tougher place to be going forward.”
Luis LaboyJul 20, 2026▶ 28:02Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)
“One of the structures that I did is I broke the portfolio into two where I had this core portfolio, and then you carve out a piece of the portfolio for this next generation set of managers where the hurdle isn't lower. We're still trying to find the same quali…”
Luis LaboyJul 20, 2026▶ 32:09Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)
Insight
Laboy: Lacking upfront criteria introduces personal bias risk into manager selection
“If I don't have a set of clear criteria ahead of time, I'm going to end up picking the shiny object that resonates with me. Then you're going to be introducing a certain factor risk, which is your own biases into the portfolio.”
Luis LaboyJul 20, 2026▶ 33:46Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)
Disclosure
Laboy: Hewlett Foundation maintains a documented 'kill list' for every manager
“One of the things that I've done, and we borrowed this from Annie Duke and her book Quit, we've put together what we call is a kill list. For every manager in our book, we have what we call kill lists and key debates.”
Luis LaboyJul 20, 2026▶ 34:31Senior Decision Makers: Luis Laboy, Hewlett Foundation (EP.512)
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