Pros
It was extremely laid back (and most days the office was empty). Sick days were plentiful because a lack of accountability and structure allowed staff to pretty much do as they please. We had a nice, well-stocked fridge for a while (free)
Cons
Management is heavy-handed and frequently misdirected. The CEO would frequently weigh in heavily on small decisions and would often gloat about technical achievements or their own brilliant strategy when nothing had actually been accomplished. Sales staff would cycle through quickly, often making up their own prices to capitalize on commission before mysteriously departing, never to be heard from again. It was not uncommon with staff to quickly depart - some of those who attempted to leave amicably were punished or "fired" despite giving notice. Talent goes unnoticed and unrecognized while management is quick to take credit, regardless of what was or wasn't accomplished.