Yes and it is bad. It will also fail. I have seen projects go on for a year, fail, and then get completed in a week by an onshore team.

The issue with offshoring stems to accountability, talent retention, and project retention (sometimes these will fail if the offshore resource leaves). For example, an offshore resource can easily bill 40 hours of work in a week and only commit to 5 hours of work (see the above example I listed). There can also be communication barriers via actual communication, connectivity, and time zone (this particular issue is being resolved by offshoring to Central and South America).

Additional issues include the effect it will have on the economy. These companies that are founded in the US, operate in the US, and therefore are built on the backs of US tax-payers and economy are now having a cash-flow leaving the US. But, by cutting the bottom-line via offshoring the stock value of the company goes up, but really this just pumps into wealth disparity in the US rather than the economy at a whole. Likewise, there is less incentives to get into any field that can be done remotely by anyone in the US. Going to college to get a degree in anything Tech/Finance/Accounting/Data Science/Data Analysis/Data Engineering/Software Engineering/Development/QA/fucking anything that can be done online is now worth so much less. This is a huge blow to future prospects.

What we need are federal incentives to have companies hire onshore because it is critical this offshoring trend ends for the sake of the economy and overall quality of life.