Isn't there a tremendous upside to being physically co-located? Even if the teams are remote, are the founders not usually located in a 'tech hub' city (SF, NY, etc.)? Matt says to let people 'live someplace remarkable', but for most of the world that want to work in technology SF is someplace remarkable. The benefits of using group collaboration tools are still available, but you have other people working on overlap…
Trying to solve the problems that get in the way of making remote work as seamless as co-location seem to be technical, which are easier than the fundamental problems of economics.