Pros
Cool employees and some great side benefits like free tickets to Coachella and other music shows. The work/life balance is one of the best of my career - sure there are pushes when there are major feature releases, but overall the pace is very reasonable.
Cons
The founders' word is final, whether or not it agrees with reality. Ideas only get implemented if a founder can claim it as his own. There tends to be a "me too" feel to all the feature being requested, as if we're trying to catch up with the latest hot site of the month. The company is trying to straddle the very different worlds of music and Hollywood celebrities and still come off as a coherent product, probably because of competing ideas of what the company should be about at the C-level.