Pros
Nothing except for the free lunches. If you are a fresh out of college kid looking for your first job, and don't really care how much you are getting paid, then go for it.
Cons
1. Lack of structure. Unqualified people in management positions, unqualified new hires, unstructured systems. 2. Politics. You could be screwing up things that even a trained animal was capable of doing, and got away with it. You could also be just trying to help with problems and be blamed on. Your contribution would not be recognized if you were not one of their favorites. 3. Lack of direction. The CEO and directors were all full of themselves. Often times when the CEO was absent, project meetings got canceled. When a meeting wasn't canceled, no one was able to make any useful decision. The meetings basically became battlegrounds among a few of the executives who wouldn't collaborate and listen to each other. 4. Definitely negative environment. People gossip behind each other's back in the break room, back of the lab, bathroom, parking lot ALL THE TIME. Many people had no manners, or even lack of proper business social skills. The turnover rate of employees was way too high. Maybe there is a reason to that.