Pros
Social aspect is great, fun place to work from that perspective. Free food and drinks in the office. Great once a year trip abroad.
Cons
Poor leadership with no experience or real vision. Declining pipeline. Layoffs. Lack of morals at leadership level. No real understanding of how to make a high performance working culture and therefore there is too much emphasis on being liked rather than being accountable and achieving the best you can. That laid back culture breeds inefficiency, laziness, and a "that will do" attitude which means it is hard to consider yourself working in and amongst the best.