The Wastegate
Most automotive turbochargers have a wastegate, which allows the use of a smaller turbocharger to reduce lag while preventing it from spinning too quickly at high engine speeds. The wastegate is a valve that allows the exhaust to bypass the turbine blades. The wastegate senses the boost pressure. If the pressure gets too high, it could be an indicator that the turbine is spinning too quickly, so the wastegate bypasses some of the exhaust around the turbine blades, allowing the blades to slow down.
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For an internal wastegate, it vent's the excess pressure into the exhaust stream on the exhaust side of the turbo. For an external wastegate, it just dumps the excess pressure to the atmosphere.