Avantages
Work life flexibility, interesting work, great people. There are a lot of really smart people to learn from and work with - good mentors to help you along the way.
Inconvénients
Poor benefits - low 401k and ESPP contributions, misleading or fine print on assumed benefits such as tuition reimbursement & FMLA; you have to fight tooth and nail to get what is a supposed benefit. Zero raises. Zero bonuses. Discretionary stock awards at random. Forced mandatory PTO between Christmas and New Years when average allowance is only 15 days annually. Constant layoffs - employees are numbers, not people. Teams are often pitted against each other. Collaboration is difficult and there's often no incentive to work together to streamline processes. All tools and administrative processes are "self-service" so if everything doesn't work perfectly you're often out of luck.