Pros

One of the centers of the internet world Was THE center in 1998.
Lots of groups to work in, pretty good freedom to move around
Good growth opportunity in Engineering

Cons

Jerry and Sue were the wrong people to lead the company. That's fixed now, and friends there seem much more optimistic.
Decision making was awful. Generally unclear who made the decision, and thus 4 people tried to make it and nobody followed anything.
Matrix organization gave too much power to Product Mgmt. Engineering had no budget, but had to "work with" (read beg) product for any headcount needed. Hard to get people staffed on maintenance and code cleanup/repair (technical debt) projects.

Advice to Senior Management

Be better than the old management. Make quick decisions and make them stick. Balance the responsibility between Eng and PM.