To a certain extent. For years now most founders in Cybersecurity, Enterprise SaaS, and DefenseTech in the US either have familial ties or immigrated from India, Israel, or CEE. Additonally, it's much easier to publicly list in India now that the IPO market is fixed, so we can move startups that aren't going to perform in US to India where US$50M-$100M in revenue can justify an exit that is better than a PE buyout.

> Seems like the Bay Area still has the strongest network effects, even if it doesn’t make sense.

Absolutely. But the founders are largely either immigrants or the children of immigrants. Half of Bangalore and Tel Aviv is here right now raising capital, but all the core strategic roles (Product, Engineering) are increasingly only located in India, Israel, and CEE.

> is this offshoring really a threat to America

To America, no. To Americans not working in a Tier 1 hub and aren't upskilling absolutely.

Why pay $160K for Joe in Cary who's a bootcamp grad when I can hire Jamila who returned to Koramangla from the US where she worked at a couple YC startups and did her MSCS at UIUC in order to work at Google India for $90K.

That said, for American politicans services offshoring does not matter. It's a mostly blue voting industry with a vocal red minority largely living in a blue states or blue bubbles in red states. IC SWEs are not a vote bank for neither the GOP nor the DNC.