Pros
The "start up mentality" leads to some flexibility in what you might be doing. Since they won't hire enough people, you may be able to do more than you were hired to do, and grow a bit in your career. These new skills will not, however, be reflected in your paycheck. Still, it's a reasonable pit-stop for those undergoing career changes.
Cons
Management misleads its employees about their plans for the future. In particular, Western-born executives are led to believe they will have more authority and autonomy than they really will. The amount of penny-wise and pound-foolish behavior is extraordinary. The company has a poor track record of creating opportunities for non-Chinese women; very few do well there. Non-Chinese men appear to fare better, but sometimes find that they are there to give a "Western face" to the U.S. operations. Management in downtown Los Angeles seesaws between benign neglect and regimentation. (There are periodic crackdowns on arrival time, even for some executives, with not even a few minutes of grace. Periodically there will be crackdowns on listening to music on earbuds at one's desk, or eating at one's desk, or violating the dress code. In between crackdowns, it's a very "loose" place, and employees get by with a lot, since the managers are all overworked, too.)