Exactly - I feel that folks in the US or Western Europe who are in "low cost areas" are in for a shock, as in many ways they have the worst of all possible comb

Exactly - I feel that folks in the US or Western Europe who are in "low cost areas" are in for a shock, as in many ways they have the worst of all possible combos. Either you're in a big "tech city" where being present (often in person) provides a tangible benefit that your employer is willing to pay for, or your essentially bidding on cost, where someone in a lower-cost country will be able to beat you every time. I've been in tech for a long time, but this is the first time we've had a significant downturn where remote/videoconferencing options have been so good. In the past it felt like executive cries of "we'll just outsource everything!" always backfired because the communication and management overhead (not to mention varying quality levels) had been extreme. Now, though, with everyone used to remote work, why bother looking to save a few bucks hiring in Wichita when you can save more, and get just as good if not better quality, hiring from Cordoba Argentina?