When technology progressed enough to allow for

1. outsourcing and offshoring (non deterministic, easy to disrupt)

2. cloud computing (mercy of the online service availability)

we had the same dilemma.

Outsource exactly what you think is not critical to the business. Offshore enough so that you gain good talent across the globe. Use cloud computing so that your company does not spend time working on solving problems that have already been solved. Assess what skills are required and what aren't - an e-commerce company doesn't need deep expertise in linux and postgres.

Companies that do this well outcompete other companies that obsess over details that are not core to their value proposition. This is how modern startups work: it is in finding that critical balance of buying products externally vs building only the crucial skills internally.