Has anyone else seen the postings on social media about the customer event being held in Austin today? I had heard something about it but just saw a post that said they will have 700 people there to showcase our new offerings. I'm not sure what there is to showcase and why the company would let the CEO "step down" days before a big customer event like this, but my guess is that when the event goes poorly they will be able to blame it on him and further justify that they are moving in the right direction. Meanwhile we are all keeping our heads down before the holidays hoping to survive. Gotta love the way they think in the ivory tower.
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Recover? LOL.
Titan - It has been in design since 2016. It used to be called Granite and it never took off the ground. We renamed it to Titan as if that's going to work. We should have renamed it Titanic because all it's going to do is sink.
Buoy - Maybe our little Buoy can save the aforementioned Titanic once Resi figures out how to re-engineer it completely. We bought an early seed-stage startup in the prototype phase with 500 customers that were mainly friends and family.
Storm = LOL. Like we've figured out who's going to pay for our c-appy add-ons.
Torch - led by the 'fellow' that is most-hated by all the functions and business units within Resi. Yes, he can torch this for sure.
We can recover if customers would pay for the products.
Titan is the greatest architecture and development ever designed and build with our leadership insights.
Buoy is a game changer that will stop any water damage to your home at only a few thousand dollars.
Storm has been in design and is now ready for production by Q2
Torch is led by our future chief fellow that has shepherded many products like dragonfly - a state of the art camera
Amazing products are coming out in the security section next year! We recognized that the internals of the panels are decade old even though the outside was revamped and this new one based on Titan is a game changer. Do not follow those DIY, get a pro to install everything!
czud - I actually work for one of your customers and I have been watching this site after it was briefly mentioned in an "off the record" conversation at the event. I was mentioned by two rezi employees almost in code and when I asked they told us.
I can confirm whats being mentioned on this board. Customers are VERY concerned and this event did nothing but validate their concerns. There is nothing new or cutting edge planned. The majority if not all your customers feel this way and are so concerned they have either started selling competitor products or are well under way to start selling competitor products.
Rezi is widely viewed externally as a company that at one time owned the security and thermostat space but never adapted of innovated and was left behind long ago as the connected home became more wide spread. This event did nothing but show case that. We had hoped it was going to show your products and plan that would take you out in front and make you a leader but it actually did the opposite.
Add to this the multiple securities fraud lawsuits, the obvious internal turmoil and it again validates to customers to get away from this company as fast as possible before it impacts our business'.
We are tired of hearing "it's coming" and it never does. Even worse is when shown "what's coming" in is not worth waiting for. We can get products from competitors light years more advanced, much more stable and feature sets that didnt come from 1993 right now.
Good luck to all of you folks on this board and at the company....its really sad.
Confirmed customers are very uneasy about resi products especially the “latest” ones.
We have been ordered to lie by all means to the customers in order to prevent further escapes or loose our job if they are not convinced.
Current plan is to go after new customers as the current ones know we stopped doing anything after the separation except spend crazy amounts to make the CEO avoid a commute...and hire gamers ... it’s calling digging the hole further. Bottom line we are looking for “s—ers”
We are not good at any app (lumina is a shining example) can’t get any hardware going as m-rons got promoted based on slacker and suction and real talent fled
Meanwhile the CEO and don cazzo fredo are securing multi millions dollars exit packages...Should they leave before the well is dry. and continuing their laughing all the way to the bank....
While moobs and WC get wasted with each other billing rezi for their luxurious living and binge drinking as we tell customers ... wait it’s coming next quarter... which year? Soon... feels like a gamers frat party team.
It is very frustrating for people that care that those people are still around making even more on the company after they leave... sickening.
8ltd - I agree big time. This "event" made things worse. Customers big and small are saying it made them actually feel worse about the company and the products. Off the record comments like "it validates what we thought, that all you have is the old products nothing really new or innovative planned. They also kept focusing on the fact we talked about software and had screenshots but didn't demo any (because none of it works). Buoy was also a big black eye. What scares me the most is the amount of customers that have left and the amount of comments about selling or planning on selling competitors products.
Can't speak to what moobs and Don Cazzo/Fredo are smoking (maybe each other) but I wasn't scared before the "event"...i am now. I got to see what our outside customers think and was thankful for their honesty.
Also, the multiple lawsuits did come up a few times with customers. I hate to think whats going to happen when those go to court in a few weeks. Im guessing the stock price will plummet even further or get delisted all together.
Yeah... the Austin was a farce from customer perspective.... most of the biggest customers don’t trust us. They could see we spent $4M for blowing smoke up some people anatomy....
Only ADI is trusted (for the moment but they will be tainted soon) because they won’t peddle products that are obsolete or technological aberrations ....
Yet the gamers crew is not seeing major issues they just think laying off major sections of PMO and HUE is going to get them out of the ditch.....
what is moobs and NdM smoking? That does not smell like a cigar...
5vng,
The bleeding of money is why the transfer to MX and BLR is again on the table .... cheaper but cost more money in time and delivery so we end up paying more... we have learned nothing with the crazy decisions of the previous CTO and now doubling down with moobs, Don Cazo, and Water Closet...
I hope Melville is safe
I also have customers saying it was a joke and it actually made their feeling about the company even worse. One even said it solidified his companies plan to go to competitors. They also said they had no faith that any new products wil be any good or available any time soon. Comments were also made about we had no faith in our software because we didn't demo any of it and it was off to the side in all presos....
5frq - We COULD (at one time) live off the fat for a while but not that long if you factor in bleeding money for stupid things like HQs next to the id10t CEOs house and losing sales and customers en mass.
There were definitely A LOT of meetings regarding cuts. The list has to be submitted and finalized my mid this month for execution later this month through mid to late next month.
Merry Rif-mas everyone!
Rezi can live off the fat of the previous generation thermostats and deviceS of Honeywell for at least 2 years or 3 this is why they just have those parties .... as for security...
LL-bean management in Melville has made the security system go into the void.... I guess some really miss the previous CTO
They should purge all those former directs of the CTO and le layer just after as they are corrupt
The event was all fluff and you could tell there was no solid plan. Just a bunch of buzzwords.
Funny thing is that they spent a ton of money on this event then the next day had meetings with various managers in regards to layoffs.
I spoke with one of my customers that was there. They said that it was a nice event and Resideo took good care of people and showed them a good time, but they don't believe we have the solutions ready to deliver to him and he is getting pressure from his people to switch to competitors. Sounds like we probably spent a bunch of money to have a nice party but won't have anything to show for it.
Given the current performance on releasing products to schedule, I would be surprised if they can even open the doors for the meeting on time.
@tty is correct it’s focused on pro stuff because that all they can sell.... and some concept fake garbage to try to give the illusion that some stuff is in the works like the “storm” (not even a in a teapot) and other fake news
But the RSI vacuum suction pump will carry the “torch” ensuring the backstabbing and sinking will continue (wait... was the band playing while the titanic sank and people still focused on getting lobster?)
Its probably the usual garbage with a few of the "pro installers" meeting with the company. These are usually a whole lot of nothing but folks who resell our garbage (the ones who haven't fled yet) and fake value add by installing it because our stuff is so complex and has so many registration issues that no one can really do DIY with it.
Plus, we dont have ANY NEW offerings...someone 3D printing a "storm" that has no internals really isn't showcasing anything. or a hollow "next gen" security panel in a world where people dont instal panels (alarm.com, abode, ring alarm, simply safe, google alarm etc etc etc ) lol.