Pros
Nice people. Those who really believe in the vision made sacrifices to be there. The office is fun. Some management really cares. Also, the software actually produces some good results.
Cons
The biggest issue is the CEO. He's not fit for management. A lot of problems stem from that. For example, the company preaches a lot about culture, mostly about working together and treating people and customers right. However, there is little attention given to employee growth. In one year, aside from executives, the company had close to a 90% turnover in employees. They would hire and fire on a whim. It always felt unstable and occurred in every department. The rhetoric of the culture was threatening - either you're 110% on board or you're gone. Communication was also poor. We were told for about a year that we were getting funding and that it would solve every problem in the company. Obviously, it can take time, but it always seemed like a cop-out for not paying fairly.