Pros

1. Excellent knowledge transfer (dev and test seem to share information freely)
2. Low bureaucracy (no trivial meetings, micro-management free, flexible time)
3. Friendly people (definitely less than a 10% jerk rate!)
4. Plenty of opportunities
5. Awesome location (the views really are breathtaking)
6. Free bus pass

Cons

1. Low pay (if company never goes public -- not taking options into account, I estimate about a 20% lower salary than perhaps Microsoft and Amazon)
2. Benefits are mediocre at best
3. People might be starting to worry if zillow will go public (Are we hoping for this to happen in 1, 2, 3 , or more years?)

Advice to Senior Management

Keep up the information sharing and keep us motivated. With honesty, remove some doubt about zillow making it as a public company.