> They will soon realize they don't need to pay SF wages . . . I predict a race for the bottom.

Remote companies that attempt to race for the bottom will be at a huge competitive disadvantage against remote companies that don't. Over time, they'll learn and adapt (or they'll die).

The biggest misconception about remote work is that remote work is good because don't have to pay bay area salaries. When you do that, you're broadening your talent pool, and you're then limiting yourself to the bottom half of it.

When you pay Silicon Valley salaries (or higher) for remote work, you broaden your talent pool to the entire world, and then you get to select from the very top tier. We've been doing this for years, now, and it still feels like an undiscovered gold mine hiding in plain sight.