Pros
Entrepreneurial atmosphere. Good ideas can get priority and momentum rather quickly.
Cons
They treat their people as disposable. They initially tendered an offer that I politely refused and wished them luck in their search. They adjusted their offer enough to make relocating worthwhile. A year and a half later, after implementing the big project they initially hired me for, after relocating and settling the family, they insisted on bumping me down to the initial offer - loss of title, loss of bonus compensation and drop in salary - with no warnings given. Take it or leave it - to the offer I initially refused.