Pros
Office is locked up at 6pm so everyone heads out at this time and does not work from home. Large range of health insurance options. One free catered lunch per month. eSalon Olympics for team building once a year.
Cons
Unless you are one of the first employees or at the director level, you will be forced to park your car on the busy street, usually at a meter and have to be reimbursed later. Founders decide to change course weekly if not daily. They do not trust an employee to do their job. Zero chance of working from home. You are forced to take PTO or borrow from future PTO. Employee turnover has started to reach astronomical heights because the future of the company is uncertain. Layoffs have started and are being called 'restructuring.' Entire initiatives are shut down and employees fired without notice within a day. No transparency. Good luck being successful in most positions due to the change of course happening frequently. Two offices separates customer service from the rest of the employees causing an obvious divide that founders don't want to address. Projects get to 90% completion and a founder decides they are not important enough to continue causing months of lost/shelved work, and wasted money. Most teams are left to struggle learning the ropes on their own. Customer service team is the most functional, drama-free, and least stressful. Rumors of executive level employees being romantically involved with lower tier employees run rampant. Company morale extremely low. Being audited. Most employees are more concerned with saving face rather than doing their jobs. Basically, if you become best friends with the right people and suck at your job, you'll be just fine.