There is just such a high turnover, which the customers, partners and competitors have all started noticing. From what I could see, it’s a combination of a lack of any meaningful employee benefits, no HR department and a constant change of company strategy. So all the effort of hiring talent goes to waste as soon as that person gets a better offer in a more harmonious company somewhere else.
There is also a big issue with work life balance, with staff expected to put in the extra effort dealing with multiple responsibilities over multiple timezones