The company felt stagnant. It stopped growing so fast, and repostured a lot. Direction often seemed wrong, or aimless. A lot of effort was spent chasing what existing clients wanted, rather than figuring out what the entire market wanted or needed or would benefit from.
A lot of great people responsible for much of the company's innovation left and no one took their places. Senior employees were brought in from outside the company to provide expertise, but it didn't seem as helpful as promoting from within. As the company got larger, organic cross-team work and ideas dried up, and recreation efforts fell short.
Pay and other benefits were top-notch when I started, but fell (way) behind the market over time, despite efforts to keep up.