Pros
Informal (if you like that) Relative freedom to experiment with technologies No technical interview (if you are not good at interviews)
Cons
Compensation/benefits are bare minimum/non-existent CEOs are stingy, take advantage of employees (because most of them have no resources to get another job) Very high turnover rate (in the year+ I was there, probably 20 workers came and went. The company only has about 40 employees). CEOs are micromanaging, impatient, demanding, manipulative, and controlling. The atmosphere is high pressure, low appreciation. As a developer, it's a nightmare having a boss who knows just enough about coding to think he can tell you how to do your job. CTO that they hired quit after 6 months. Engage in questionable (legally and ethically) business practices