Pros
Company structure is designed to enable people to get things done easily and quickly, and to innovate ridiculously fast. For the most part, those goals are achieved. You get to personally and visibly influence a huge industry, and sometimes more than that. I'm relatively young and so are most of my coworkers, and there's a lot to have in common if you ever find to talk about anything other than work. Underperformers are few and far between so it's not difficult to gain the confidence to rely on others around you and your teammates to get your combined workload done. At the end of the day, almost everyone has something to do with building spaceships; there's not a lot of people on this planet that can truthfully say that.
Cons
Effort required to get things done means the hours vary and can be absolutely brutal, and the reward received for this often marginal. In many ways, there's a lot of effort being made to make getting off the planet easier, at the expense of making it difficult to actually live comfortably outside of work. Everyone being able to make things happen quickly also means things can go sour quickly, often through no fault of your own, but you still are expected to shoulder some or all of the mess. Younger than average workforce means less experience in-house, so your ability to rely on your coworkers to expand your knowledge and to minimize the need for trial and error varies and can be limited. By far the biggest drawback is the main location being in LA area; for some this may be the greatest benefit, but if you're not already here, there are a whole host of better options literally anywhere else in the country.