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All I know of it is what Niall Ferguson and Ayaan Hirsi Ali have said about it (they are Trustees IIRC). And the purpose is to provide a classical education (i.e., not tainted by Wokeism, Marxism, or DEI).

It is possible that it has been destroyed before even getting started but it's original goal was to get back to real education.

Here's what ChatGPT says about Niall Ferguson's comments on the University of Austin:

Niall Ferguson, a co-founder of the University of Austin (UATX), has articulated that the primary goal of this new institution is to restore the core values of higher education, specifically the "fearless pursuit of truth."
He emphasizes that UATX is intended to counteract the perceived decline in free speech and open inquiry at many traditional universities. Ferguson and other founders of UATX are committed to creating an environment that is financially, intellectually, and politically independent, aiming to uphold academic freedom and promote rigorous intellectual debate (UAustin) (Austin Journal).
The University of Austin was established with the belief that existing universities have become overly censorious and illiberal, thereby undermining the true purpose of higher education. By establishing UATX, Ferguson and his colleagues seek to create a space where freedom of thought and expression are paramount, and where the pursuit of truth is the institution's guiding principle