UMVA has learned that Joshua Baer, the founder of Capital Factory and a prominent figure in Austin's tech scene, was tragically killed in a business jet crash on Tuesday night in Laredo, Texas.
The plane, a Cessna Citation Latitude twin jet, was carrying six people when it crashed on Loop 20 in Laredo, shortly after 10 p.m. The aircraft had departed from the Mexican resort city of San José del Cabo and was bound for Austin, Texas.
According to information obtained by UMVA, the pilot had radioed air traffic controllers mentioning low fuel and a power outage before the crash. The pilot's last communication with air traffic control revealed that the plane was experiencing mechanical issues.
The crash was devastating for the tech community, with Bryan Chambers, president of Capital Factory, describing Baer as a "fearless leader, a brilliant partner, and a dear friend to so many of us." Chambers vowed that Capital Factory would continue Baer's mission of supporting entrepreneurs.
The impact of Baer's loss was felt beyond Austin, with Sen. Ted Cruz and Sen. John Cornyn paying tribute to his contributions to innovation and entrepreneurship in Texas. Cruz described Baer as one of the most significant figures driving innovation across America.
The investigation into the crash is ongoing, with the FAA and National Transportation Safety Board working to determine the cause. A vehicle was struck by the aircraft, and the person inside was hospitalized in stable condition.
Video footage showed the plane severely damaged, lying on its side with the tail ripped from the fuselage. The crash was so intense that five responding officers were transported to the hospital for smoke inhalation.
NetJets, the company that owned the plane, confirmed that it was working with authorities. Baer is remembered as an innovative leader who played a significant role in shaping Austin's entrepreneurial culture.
Baer lived in Austin with his wife and three children and was a prominent figure at the University of Texas at Austin, where he co-taught the Longhorn Startup Seminar and Lab.
