Pros
Through promises of a "challenging, fast-paced environment, where you can grow and make the role your own", the boss lures in some talented people.
Cons
If you are into working somewhere, where management isn't qualified to manage, where after 4 years in operation, the laughable sloppiness of the company is still blamed on being a 'start-up', if you don't want a job description, if you enjoy working for a bad apple who is so concerned with 'being right', that he'll destroy the project (and you) just to prove a point, if you get off on working without a clear brief, never (literally, never) getting a chance to have a team meeting, or you want your skills to be wasted, or maybe you really like bullying or witnessing your friends being bullied and publicly chastised in the most offensive and degrading ways, then hit that 'apply' button today!