If companies can figure out how to use a mostly remote workforce effectively, they can hire anywhere in the world with good Internet. They would no longer need

If companies can figure out how to use a mostly remote workforce effectively, they can hire anywhere in the world with good Internet. They would no longer need to put an office where there are plenty of qualified workers; they could hire one-at-a-time without regard to geography. And if time zones are a problem, hire north-south rather than east-west. Rio de Janeiro, for example, is only one hour later than New York City. Over the short term there are arbitrage opportunities for tech workers moving out of high-cost and high-pay regions, but the equilibrium could be quite different.