Capital Factory co-founder and CEO Joshua Baer was killed on the night of June 16 when the NetJets Cessna Citation Latitude he was travelling on crashed onto Loop 20 highway near Laredo, Texas, and burst into flames, killing him and injuring five others on board.
The aircraft departed Los Cabos International Airport in Mexico at 6:19 p.m. and was headed to Austin, Texas, when it reported mechanical problems as it tried to reach Laredo International Airport. The jet came down on the highway shortly after 10 p.m., crash-landing on the road and catching fire on impact. Five other people aboard survived and were transported to a local hospital with injuries described as non-serious.
Bystanders stopped their vehicles and rushed to help. Two people arrived with a sledgehammer and shovel, using them to strike the cockpit glass and try to force open the plane’s door to reach those trapped inside before emergency responders arrived. Witnesses said the wreck looked like a scene from a movie. The dramatic rescue efforts were captured on video and circulated widely on social media.
Joshua Baer co-founded Capital Factory in Austin in 2009. The company became one of the most prominent startup accelerators in Texas, helping launch hundreds of early-stage companies and positioning Austin as a major technology hub. Capital Factory runs programs connecting startups with investors, mentors and government contractors, and Baer was a central figure in Texas’s tech ecosystem for nearly two decades.
The Federal Aviation Administration and National Transportation Safety Board have opened investigations into the cause of the crash. The NTSB investigation will examine maintenance records, the reported mechanical failure and cockpit communications in the minutes before the crash. The NBC News report covers the rescue operation and early investigation details. Tropical Storm Arthur also brought dangerous conditions to Texas this week — see the storm coverage for flood impacts across the Gulf Coast, and the FDA alfredo sauce recall for another major US safety story.
Joshua Baer built something real in Austin. The startup community he helped create will continue. That doesn’t make the loss easier for the people who knew him.
