Joshua Baer, the CEO of Austin, Texas-based Capital Factory, an organization that helped boost local startups, has passed away in a plane crash in Laredo earlier on Wednesday. He was one of the six people who were on the plane at it crashed. The five others have survived the crash, authorities confirmed.
His death was confirmed by Capital Factory to the Austin American-Statesman. Joshua Baer was 50 years old.
The privately owned Cessna 680A jet carrying six people went down around 10pm CDT on Tuesday (June 16) on the highway near Loop 20 in Laredo. It immediately burst into flames as motorists on the loop rushed to the spot to help the trapped passengers.
Tragic videos emerged from the scene of the crash as drivers and motorists led the rescue operations till the emergency crew arrived. The plane hit a car during the landing and hit a car in the process. Associated Press reports that the driver of the car was injured but is in a stable condition now.
Additionally, police said that the plane crashed while making an emergency landing. The crash is being investigated.
{{/usCountry}}Additionally, police said that the plane crashed while making an emergency landing. The crash is being investigated.
{{/usCountry}}Who Was Joshua Baer?
Joshua Baer was the founder and CEO of Capital Factory, which, the company's website states, "helps people quit their jobs and become entrepreneurs." The company describes itself as a "coworking community and mentorship-based accelerator." He was popularly referred to in the Austin area as "godfather of Austin's startup scene."
The 50-year-old began his career in the industry far apart from what he was doing. He started at the White Columns gallery in New York (1979-1983). He then opened his own gallery and launched an art industry newsletter.
He transitioned into tech in 1996 founding his first startup while studying at Carnegie Mellon University. He founded Capital Factory in 2009 after several years of working with entrepreneurs.
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What Caused The Plane Crash
The Cessna crash in Laredo is being investigated by the Federal Aviation Authority, and a detailed report on what caused the plane crash could take months to come.
Preliminary investigation has revealed that the small plane was attempting to make an emergency landing. What caused the jet to land on the Loop 20 remains unclear. However, Laredo International Airport Director Gilberto Sanchez said that the pilot of the jet “mentioned low fuel and a power outage” in a message to the traffic controllers.
“They had mechanical issues and they lost communication with the tower,” Sanchez said in an update on Wednesday, adding "That’s when the accident happened.”