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In my experience, at least, it feels like offshoring went through a productive evolution over the years, from

“Just farm it out to a bunch of those third world people who are cheap and barely even exist as humans!!”

to

“We can totally have globally distributed software teams with some people in places with a lower cost of living, as long as we work extra hard to make sure everyone functions as a team.”

That may be a rosy picture that comes from my own limited circles, but…that's the progress I saw. I wonder when / if folks will do similar learning about the current cost-cutting manias.