[smt88]

If you make good use of Slack or video chat, there's very little impact on communication or productivity. There's actually a lot of research showing that productivity is much better when people have privacy and quiet (the opposite of an "open office").

However, the rapport and happiness of your team might suffer if they all work remotely. It's not a good lifestyle for everyone.

Also, keep in mind that there are many large cities with a very reasonable cost of living. You can have an office (with the option to work remotely) in one such city. Houston, Atlanta, and Nashville come to mind, but I'm not an expert.

The idea that it's "Silicon Valley or bust" is totally ridiculous unless you're planning to launch a B2C product that requires lots of runway and, therefore, investment.

[iSayHi]

Thanks for your input. Valuable points. And we are in fact, launching a B2C product :)