Pros
At lower levels, mostly great people (with some notable douchebags), smart, talented and enthusiastic (although that gets sucked pretty quickly). Nice building. Very flexible time-wise, good work-life balance. Dogs at the office.
Cons
Passive-aggressive (and just aggressive) behaviour from a number of key staff including CEO. When the introduction talks about how "we don't do silent disagreement", that means silent disagreement is rampant. Lots of unpleasant politics for a little organisation. Exec-team not functioning. Aware of the problems, but to date incapable of solving them. No leadership or vision from CEO/senior team, other than "everything is awesome!" Endless banging of the "culture" drum while team is failing to perform. You can't have culture if good people can't do good work.