Pros
Some California-typical work-life perks make this a superficially attractive place to work; gym membership, stocked kitchen, sparse but fun company get-togethers, flexible hours, and a great location make for some positive amenities. This business will put you in contact with some of the most interesting and intelligent people in the world; it's undoubtedly exciting work and demands hire-level engagement. A great learning experience. There is inherent opportunity to advance in a burgeoning industry.
Cons
Company is addled with managerial angst, often putting process before flexible production and authority over merit. It has a great product, great trade secrets, and intelligent people behind it all, but the company can't seem to shake some tired business strategies and a few key old has-beens (or never-weres). Many people who work there put in thankless hours and while there is plenty of small-company camaraderie, there is little top-down, cohesive vision and an unfortunate rate of resulting thrash that makes working there tiring and frustrating.