Companies such as Uber tend to be biased towards growth rather than profitability, even at the time of their IPOs. Uber's layoffs are in part due to the coronavirus situation, but perhaps also due to their transitioning towards a profit bias.

It may seem counter-intuitive to invest in companies that are not biased towards profitability, as they tend to be risky and volatile, but portfolio management theory predicts that including some volatile assets in a portfolio makes it perform better. See e.g. https://www.investopedia.com/terms/c/capm.asp.