Pros
You have the ability to work and learn with the companies you are assigned to. You can network and find a way to get hired directly if you do well.
Cons
You will be underpaid. No matter what you are offered, you could be making more every time. You will be hounded to discuss your personal information, and if you do not, the owner will yell (yes, yell) at you for not discussing health, family, or other personal issues. You will be harassed and you will be bullied by the owner. There is a very, very high turnover rate for those working directly for this "company", and due to the micromanagement problem, many that are assigned to projects by this company find something else right away because of the stress and callousness of the owner. You will be blacklisted; working for this company, and having it on your resume, means that no other company will want to associate themselves with you until you are far enough away that the owner will not call them directly to yell and harass them. I have had to quit and leave, find something else temporarily, before anyone would hire me once more in my field of work. Ultimately, no matter how desperate you are for a job or opportunity, working for this company will set you back by years. Keep waiting and keep applying, you will get something else that will actually help you with your career.