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Brendan Iribe. Photo: Ramin Talaie/Corbis via Getty Images

Oculus co-founder Brendan Iribe is leaving the virtual reality company four years after Facebook acquired it, Iribe wrote in a post on Facebook. He plans to take time off.

Why it matters: Iribe is the latest founder of a Facebook acquisition to leave the company in the last year or so, following both of WhatsApp's founders and both of Instagram's. Another Oculus co-founder, Palmer Luckey, left the company last year after controversy surrounding his donation to an anti-Hillary Clinton group.

Go deeper

Biden signs order overturning Trump's transgender military ban

Biden at an LGBTQ town hall in October 2019. Photo: Robyn Beck/AFP via Getty Images

President Biden signed an executive order on Monday overturning the Trump administration's ban on transgender Americans serving in the military.

Why it matters: The ban, which allowed the military to bar openly transgender recruits and discharge people for not living as their sex assigned at birth, affected up to 15,000 service members, according to tallies from the National Center for Transgender Equality and Transgender American Veterans Association.

GOP Sen. Rob Portman will not run for re-election, citing "partisan gridlock"

Photo: Drew Angerer/Getty Images

Sen. Rob Portman (R-Ohio) announced Monday he will not run for a third term in the U.S. Senate in 2022, citing "partisan gridlock."

Why it matters: It's a surprise retirement from a prominent Senate Republican who easily won re-election in 2016 and was expected to do so again in 2022, creating an open Senate seat in a red-leaning swing state.

Dan Primack, author of Pro Rata
46 mins ago - Economy & Business

Merger Monday has been overrun by SPACs

Illustration: Aïda Amer/Axios

Five companies this morning announced plans to go public via reverse mergers with SPACs, at an aggregate market value of more than $15 billion. And there might be even more by the time you read this.

The bottom line: SPAC merger activity hasn't peaked. If anything, it's just getting started.