Pros
Good work hours despite being a startup. Everyone is talented in their respective domains and you learn considerably every day when working with one another. You may have to stay long hours if something breaks (ownership of your code is a good thing). Good deployment practices means this is rare though. Friendly atmosphere where everyone is open to helping one another. Benefits of being a small team means there is absolutely zero bureaucracy. Last and most important is the visible trust and transparency provided by the leadership that makes you feel valued, takes everyone's opinions seriously, and helps you understand the long term vision and goals.
Cons
I guess to be fair we don't have all of the benefits that some startups have such as gyms and free meals. I don't really consider it a negative, maybe someone else might. We have snacks, drinks, and other stuff. :)