Pros
Perks are ok. Free breakfast, lunch, and dinner. However, the food options are not varied and dietary restrictions / allergies are not taken into account. You also receive a quarterly $500 travel "coupon" to use towards an Airbnb listing. The people that work here are extremely friendly and it truly is more like having a second family than having "co-workers".
Cons
Compensation is NOT competitive and raises (or even cost of living increases) are few and far between. Positions that warrant a salary of $120,000 at other bay area tech startups, only receive about $60,000 at Airbnb. Many people (including myself) have had to take a significant pay cut. Essentially this means that Airbnb is not good for the long term, but alternatively is a great short term option to buff up your resume. Working at Airbnb is pretty much like belonging to a cult. If you don't fit it (introverts specifically) you will not succeed. Promotions are not given to the people that are the best fit for the position, but are given to the person that spends the most time socializing outside of work. Also, work life balance is practically non-existent.