Politics and sometimes overly ambitious goals without thorough consideration of the capacity and ability of current team in place to carry out company's objectives.
So disorganized lots of stuff slips through the cracks. That can be a pro if you make it one. Weekly "team" meetings let you learn about what each department is doing, although they are mostly a time suck and chance for the CEO to crack inappropriate jokes. Decent place to get bump on your resume - well known player in indie/international world. CEO is actually very smart and you can learn a lot from him if you make an effort.
Cons
Top heavy, extremely poor management, low morale, low pay, long hours, cramped space, no respect for partners, bad reputation for paying bills extremely late.
Benefits basically nonexistent