We were like, "Holy ! these people are so cheap. If I hire people with same level of experience locally, I would have to pay 3-5x more on average."
Later, my friend took over this team of developers for his startup. What he found is that 30% developers in his team were working for two or more employers.
And something like 20% of them outsourced part of the projects to developers in South Asia, security risk.
Today, we try to hire onsite as much as possible.
It require very high level of trust to hire someone remote.