Pros
It is possible to very quickly gain responsibility. You are encouraged to find innovative solutions and think/act outside the box. Flat hierarchy in the technical community. Performance gets valued more than a high degree or experience on paper. Flexible working times and home office.
Cons
Chronically understaffed projects and support organizations to maximize profit. You are required to protect yourself from overworking, the company will not do so. Higher carrier opportunities seem to move towards US only. New hires usually do not get much support and are required to learn fast by themselves. Frequent reorganizations cause lots of collateral damage, e.g. dropping still required know-how, loosing excellent people and psychological stress reducing the productivity. No or very limited support for PhDs.