Know yourself, then manage your path accordingly
Pros
Brilliant co-workers, opportunities to have a direct impact, minimal nit-picking bureaucracy or corporate policies, dynamic energy as the company continually evolves. Company does pretty well as removing doofuses and not hiring jerks. For the saavy employee, you can move into some great opportunities as the company grows and adapts. Upper management is very transparent (even when sometimes they don't make the best call -- e.g. Qwikster).
Cons
Dynamic environment does not work for a 'do my work and go home' employee or those who just want to show up and be told what to do. Middle and lower management can be a crap shoot -- seek out a great boss (there's many at Netflix) and avoid the bad ones (unfortunately, Netflix has those too). There is a level of 'playing the game' but not to an extent that I'd say is greater than anywhere else. Corporate philosophy does not emphasize coaching (but does not ban it) -- so you need to seek out your own mentors or strengthen your team (if you're a lead) by figuring out career/skills grown on your own.
