Pros
Managers and business are flexible and there's not unnecessary pressure to get work done; you're encouraged to speak up and make your opinions heard, and complaints and feedback are welcomed and addressed.
Cons
There's some sloppiness and lack of structure when it comes to certain HR-related things in the Internet Business department. Too much responsibility for interviewing and hiring new developers falls on the developers in my opinion; so much so where the managers only set up the interview time and make the final decision - everything else is left up to whatever devs volunteer to help out with the interview. Onboarding new developers is always fraught with delays and disorganization. And if you're looking to advance in your career, management is really eager to help you out, but you have to make all of the decisions and figure out exactly how you want to do that.