RIP high tech salaries. If you were teetering on a decision between working in a FAANG company or starting your own business, then this adds some weight for the

RIP high tech salaries. If you were teetering on a decision between working in a FAANG company or starting your own business, then this adds some weight for the "own business" side. I get that high salaries are partly a result of war for talent. This demand will continue to prop up salaries to a certain level. But how much does location play into scarcity? Line up all the people around the world who could work for a FAANG company. Eliminate everyone who can't get a visa to work in the US. Add back all the people living in the US who could work for a FAANG company. Eliminate everyone can can't or won't live in one of the most expensive cities in the world (maybe not a concern for foreign workers at this point because they have already accepted and received the visa, but it will cut out a lot of US citizens.) Eliminate everyone (mostly US) who already has a job and isn't bothering to look for another. Add moving into a city with not enough housing as friction. Add available office space as friction. Am I missing anything? How many more people do we now have that can compete for jobs at these companies? 2X? 10X? If FAANG companies are now hiring from anywhere in the world, why wouldn't China create a state backed initiative to run Olympic level intensive programs specifically targeted at filling seats at these FAANG companies? It would be a national program for creating high paying jobs and it would provide a sense of national pride of having the greatest talent for the industry. Why wouldn't these countries become as competitive with providing workers for the tech industry as they have become with manufacturing? Aside from having a greater pool of available workers to pull from, this is a major reset event. The other side of this reset could look very different than it did a few months ago. WFH is just the first big change.