Pros
A good place to hit the ground running and learn to do things quickly and independently, but not enough structure for long-term growth as an employee.
Cons
Management speaking negatively of employees among themselves and to other employees is especially detrimental in a small company. People don't get real constructive critique when friendliness is over-emphasized. Avoid antagonizing employees when they are stressed. Humor and gossip can often be mean and inappropriate; professional boundaries should be respected more. The repeated pattern of showing favoritism to certain hires (and pushing older ones out) is harmful. Rather than having the capacity to invest in the growth of employees, there was a sense of being given up on when you don’t produce desired results quickly.