Travis Kalanick, the embattled bad boy founder of Uber resigned late Tuesday night, ending three years of questionable actions at the ride-sharing company.

My colleague at The New York Post, Jonathon Trugman wrote on Sunday:

When the board finally got around to getting a handle on the matter, one of its members, private equity giant David Bonderman, ended up having to step down after making a sexist slur about female board members. For starters, one needs to understand the incestuous relationship between Silicon Valley’s boards and their company’s executives. Generally speaking, there are two currencies used to get a board seat at many prominent Silicon Valley companies: money, and the credibility lent by fame. Most board members of tech firms are the executives, along with early stage investors. That’s how TPG co-founder Bonderman found himself in the hot seat.

Well it looks like the Uber board of directors finally acted by asking Kalanick to step down, according to reports. One wonders though if the did for the right reasons.

You see the private shares of Uber have taken a hit over the last month or so as news of the booze-filled company trips and sexual harassment as charges have dripped out from a report by former Obama Attorney General Eric Holder’s report.

As Trugman said, the board members are early investors with a huge stake in the company, so was it out of respect for common decency or a need to bolster creditability and a flagging share price that brought the board to its senses?

Here is a somewhat complete list of the Uber woes over the last few months as composed by Zero Hedge:

So I did not come to hail Uber, but to question the board’s motives again.