Turing Revenue Surges, Cuts Staff
Turing's President told IPVM the company is experiencing "crazy amounts of growth" but has also changed executives and laid off staff. What does this mean for the company's future?
In this report, based on an interview with Turing President Chris Zenaty, we examine Turing's growth, executive changes, and staff reductions.
Related, see our Turing Vision VSaaS Tested 2023, Turing LPR And Advanced Vehicle Analytics Tested, and Turing Edge+ Cameras Tested.
"Crazy" ******: ~**% ****-****-****
********* ** ******, ****** **** "**** over **** ****** **%" *** **** they *** "******** *** ******* ******* new ****** [* ***** ***********] *** ever ****."
****** **** **** "******** ******** *** confident" ** ******'* ******** *** *** growth **** **** ********, ****** ********** they **** "******* ******* *** **** money," *********** **** **** ***** **** significant ******** ******** ************** *** ********** *** ****.
***** ****** ******* ~**% *** ******, Turing ******* **** * ********** ***** base (**** ******** ***** ************ ***** in ~****) *** *** ******** ****** is ***** ********** ****** ******** (*** ******)**% *** ******, ***** ** ***, far ****** **** ******. ************, **** companies *** ******* ****** ***** *** to ** ********** ************ ** ***** and *********.
Layoffs ** *****
** *** **** *** ******, ****** laid *** ***** ** ****** ** sales ******* *****. ****** ****:
** *** ******* * ****** ******... [we] *** ** ** **** ******** responsible.
****** ******* ********* ***** ******* **** a ********** ** ***** ***** ****** strategy ** ****:
** ***** * ******** ** ******... We ******* ** ****** ** *** had ** ******* [** ****]
*** *** ******** **** ********:**, *** **+, ********* *** ********* Quit, ** ** ****** *****.
*** **** **********:
* *** ** *** **** **** good ****** * ****** **** *** years **.
** ** ****, **'* **** ** hire **** ****.
Employee ***** *******
******** ***** ******'* ******** ***** **** ~6% ** *** **** * ****** (and **** **% ** *** **** two *****):
****: **** **** *** *** *** reflected ** *** ******** ******** ******, as **** ****** ****** ********* **** not ******* ***** ******** ** ******* the ****.
**** **** ** ***** ********** ****** in ***** *** ******* **********:
Bringing ** *********** *** *****
****** ********* **** *** ****** ** these **** *** ******'* ******** ** bring ** *********** *** ***** ** some *******. ***** *** ***** *** lower ***** ***** ** ***** ***** are **** * ********** ** ******** sales. *** ***** **** **** **** signed ** ***** **** (******* *******)***** ** *****, *** **** ***** the ***** ******* ** (*****, ********, Arkansas, *** *********).
****** **** ****** ** ******* **** in ***** *******, ************ **/**/**** ****** and *** ******* ******* (****, *******, Illinois).
Executive *******
** ******** ** ***** *******, ****** is ****** ******* ** **********.
- ************* **** ** ******** ** ********* (previously ****** ** ** *****) *** receive * **** ** *** *******'* board.
- ***** *****, ********** ***, **** ** **** CEO
- **** ***, ********** ***, **** ** ***** to ** ************ ****.
************, ****** ********** *******-***/********* ********* *** *******, ********** ******** *** ******* ** ***** 2023***** * ****** **** **** * year, *** ****** ********** *** *****-*** in ****** ***** ** ****,********* *** ***, ***, *** *** of ********.
Focus ** ***** * ** *******
****** **** ****** **** *** **** emphasizing **** **** *** * **-***** company ** ******** ********** **** ***** and *** ******** *********** *****-***** *********.
** *** * ** ******* **** US-based *****. ** *** ************* ** California [*** *****]. ** **** * customer ********** ****** ** ******.
Focusing ** **** ******-**-*****
****** **** *********+ ******-**-***** ******* (*** *** ****)** *** ****** *** *** ******* more *********** ** *** ******* ****.
[******] **** ** **** * ****** they *** **** ** *** *** can ****** ** **** *** *******. That's *** ******.
****** **** ********* **** *** ******-**-***** line ** ** *** ********** ******* it ******** ******** **** *******, ***** has ************ **** ********* ** ***** project (*.*.,*** ******* ******* **** ***** *,***+ Verkada ******* *** ** *****).
Engineering ***** **** ****** ** *****
****** *** ***** **** *********** ********* from ************* ***** ** ********** ***** ********, **** ** ***** direct-to-cloud *******, ****** ****:
[****** ***] **** ** **** **** Chevy *** *** ****** **** ******* car ** * ****. ** ***** people **... *** **** ****'* ***** yet.
** **** **** ***** **** ** continue ********** ******, ****** ** * longer, **** ********** ********.
*******
** *** ******** ****, ******** ***** burn **** ******** **** * ****** runway ** ***** * **** *********** VSaaS ********.
*******, *** ******* *** ******* ********** over *** **** * ***** (**** robots** ***** ********* *********** *** ******** ** *****) and **** **** ** *********** ** can *** ***** *** ******* ** a ******* *** *********** ***** ******.
“******* ** *******, ** **’** ***** to **** ** *** *** **.”
****, *** ******* ***** ** *** facts ** **** *** ** * little *************. *** *** ****** *** “surging *******” ** ****** ** **** the ***** ** ******* *** ******’* ever ***** *********?
****** ****** $** *******, ***** **+ sales ****** *** **** ****** ******* $3 ******* * ***** *** ** months. *** **** *** ****** *** consequences ** ***** *******.
******* ******* *** ****** ***** *** and ***** ** ***** ********.
* ***'* **** **** ***** **** / ****** ****** *** *** **** year, *** **********, ** *** *** higher **** **%; *********, **** ***** not **** ** **** ** **** cuts.
** *** ***** ***, *** ****** admits, ******* ** **** ***** *** so **** **** ** ****** ******* coming *** * *** *******.
**** **** **** ** ***** ** their ****+ *******, *** **** **** that **** ************** ********** * *** weeks ***?
******:****** ****+ ******* ******
***** *** ****? **** ********, ******.
“******* ** *******, ** **’** ***** to **** ** *** *** **.”
* ***** **** ********* ******* ** well. *** **** ** **** ** would **** ** ********** **** **** of ***** ****** ****.
*******, ** *** **** ****** ****** growth, * ******** *******, *** ******** support *** *** ******* ******* **** overstaffing ******. ************ **** *** *** overstaffed ** *** ***** ****, ***** that **** ***** ******** ****** **** to **** ********* ******** ** *** actually **** * ********** ********.
*** ********** **** ***'* **** ** add ** ** **. ****** *** seemed ** ****** ** * ********. Also, ****** **** **** ** ***** product ** ** *********** * *********, it ** *** ** *** ********** (cameras *** ***, *** *** ***** product, ****).
***** - * ***** *** ********* strange ****. * ***** **** *** facing ********** ******** *** ********* ** someone. **** **** ********* ******* ** their ******* *** ** *** ***** updates *** ******** **** *** ******** less ****** ** ********* **** **** was *** *** ******** ********* *******. I ***** **** **** **** ***********:
"** *** ******!" (**, ** **** fired * ***** ** ******...*** ***** us *** **** ** ****!)
***** ***** ***** ** ** * lot ** ***** *** *******. ***'* the **** ******* **** *** ***? US-based, ** *** ***** * ** citizen? ***** ******* *** ******* *** of ***** *****? ***** ** ** much **** **** * *** ***** reading ****!
"** *** ** ******** *******"
"*********, ***% ********"
"**** ** ********* *** **** **** we *** ** ******** *******?"
"*** ****** ** ** *******... *** of *** ********* *** ******** ** fly ******** ***** ** ***** ******... which ** ******, *** *** ** America."
"***** **** *** ******** ****** **? American."
******** *** ****** ********* ******:
"********, *** ****, ***** *** *** Turing"
"***** **** *** ******** ****** **? American."
* **** *** * *****.
* ** ***** **** *** ********* trying ** ** ******** ************.
**** ** ****, * *****, ** the ********** ** ** *** *** investments, *** ***** ***, ******* **** of ******** **** *** *** ** the *** *** **** ***** *** not * *** ****. *** ****** changed **** *** ****.
**** **** ******* **** ******* **** broader *****:
******* ** ***** *** *****, *****/********* Asia ********** **** ************ ******* | Reuters
*.*. ******* *****’ ***** ** ***** Tech ************ ** ******** ***** - WSJ
* ** ***** **** *** ********* trying ** ** ******** ************.
**** ***** ****** **** **** ****** statements *** ************ ********* ***** *********** on ****, ***** ******* ***** ** PRC *** ********* ** ************ ********, their ***** ** *********, ***.
**** ************ **** ***, ****** ** ****** **** *** some ** ***** ********:
***** ******* ***** ** *** *** unethical ** ************ ********
***** **** *****.
**'* ******* *** **** *********** ****** get ***** *** **** ****, ******** for ***** **** * **** **** job ** ******* * *******. *** lets **** * ***** ** ****** and *** **** * ***, **** though ** ******* ***** *** **** fire **** **** ***** ***** ** move ****** *** **** ** *** try *** **** **** **** ** a ***** ****. **** * ***** business ****!
*** ***** ****** **** *** ******** to ********* ** ****** ***** ****** off **+ ******.
********* *** **** ***** ****** **** how ** **** ** **********.
* **** ****** ****** *** ******** to ** ** * ********* ********* and *** ***** ********** **** ****** dozens ** ********* (** *** ***********) at ****, ***** ***** ***** ***** was *** *** ***** ****.
*** **** ******** ** **** ***** is ******* **** ** **** **** a ****** ** **** *** ****** execute ****.