Tragic Plane Crash Claims the Life of Joshua Baer in Laredo, Texas
Joshua Baer, the founder of Capital Factory and a prominent figure in Austin’s tech scene, has been identified as the individual who lost his life in a business jet crash occurring on a highway in Laredo, Texas, on Tuesday night.
The incident happened shortly after 10 p.m. on Loop 20, with a Cessna Citation Latitude twin jet carrying six people on board. The aircraft was reportedly on its way to Austin from San Jose del Cabo, Mexico, according to a statement from the Federal Aviation Administration.
Brian Chambers, president of a software accelerator and investment firm, shared his thoughts with a local news outlet, expressing his grief: “Joshua was a fearless leader, a great partner and a dear friend to so many of us.” He emphasized the loss felt by the community while noting that, despite the tragedy, Baer had established a resilient organization committed to helping aspiring entrepreneurs.
He added, “Capital Factory remains fully operational, and we are dedicated to continuing his mission of supporting unstoppable founders.”
The specific cause of the crash is still unclear, with investigations underway by the FAA and the National Transportation Safety Board. Gilberto Sanchez, the director of Laredo International Airport, relayed that the pilot mentioned fuel shortages and power outages during communications with air traffic control. He indicated that a mechanical issue arose, leading to a breakdown in communication and ultimately the crash.
Interestingly, an investigator from the Laredo Police Department, Jose Baeza, noted that the aircraft collided with a vehicle, injuring the driver, who has since been hospitalized but is in stable condition. Some social media footage appeared to show the plane crashing into a highway barrier while tipping onto its side.
Texas Senator Ted Cruz publicly expressed his sorrow over Baer’s death. He stated, “Josh is one of the most important drivers of innovation and entrepreneurship across America,” acknowledging Baer’s significant impact on Texas and his support for the local military ecosystem.
Interestingly, amidst initial reports suggesting no serious injuries from the crash, five officers who responded were later treated for smoke inhalation due to the incident. Following the crash, Loop 20 was closed temporarily.
NetJets confirmed that one of their planes was involved and is cooperating fully with the investigation.
According to the University of Texas at Austin, where Baer was also a co-professor in the Longhorn Startup Seminar and Lab, he lived in Austin with his wife and three children.
