Uber's valuation dropped significantly from its pre-IPO valuation of $120 billion to $76 billion after going public, due in part to its history of unethical behavior. As a private company, Uber was able to push boundaries through questionable legal and ethical practices. Its rapid growth was accompanied by numerous lawsuits over disregarding regulations, surge pricing practices, and toxic workplace culture under former CEO Travis Kalanick. Kalanick's resignation was seen as necessary but not sufficient for changing Uber's culture, with observers skeptical that its competitive tactics and ethical issues were merely part of its strategy to dominate the market. The company's future success requires addressing these reputational challenges through strong leadership from its new CEO.