The employment regulation burden is also massive for going truly global-remote.
Australia and NZ for example have strong employment laws AND do not overlap time zone-wise with most of the rest of the world. We have some great talent here but it's often too hard to make it work.
Disclaimer: I made https://rafo.com.au to collate remote jobs that work for Aussies & Kiwis.
There are certainly companies looking for talent that is only time-zone friendly. Having run an engineering team co-located in SF & Beijing, I know how hard it is myself to be working odd hours for standups, product syncs, etc.
That said, there are other companies that are hiring truly global. I know OneSignal is one such YC startup, having hired somebody during the pandemic in the Netherlands.
Last year alone, YC startups hired across over 40 countries. I can dig into more data re: how many were US-based companies hiring abroad -- that's a good distinction.
As someone who prepandemic was contracting back to nz whilst living in south america and now is starting to hire contractors, NZ and OZ don't represent good value spend in comparison to many other countries that have great people also but are getting paid 5 instead.
I have friends back home I would love to bring on to my team but the thought of paying them gives me shivvers.