Pros
Free Friday lunch, some free snacks and milk, free coffee.
Cons
No concept of management, anyone can do whatever they feel. As long as the company is able to raise funds and remain in limelight the top management does not care for day to day affairs. No one cares if you come or go. Some noisy and bossy lady employees move around and practically terrorize other employees across departments. These people are held in high regard because of this ability. Your boss does not care if you have worked 20-hour days for four days in a row. He would suggest that you put in a couple more and what's more he would follow up with email questions at 2.00 in the morning to make sure that you are up and working! The IT department is worst offender. Departments like Finance are not much better. There is a constant mad rush to do a lot of things, make a lot of changes all at once. It can be frightening to keep track of all these changes that affect you.