Pros

Facebook is exploring some new ground with social networking and its cool to be associated to the innovation

Cons

People are often not treated fairly as Ego's get big fast when a company grows so quickly. They get you in the door with the "potential" of going IPO but your in you give up your life and soul with little career growth or monetary incentives. Its no wonder that three of the four founders have already left in less than 3 years and long term employees are looking to sell their shares. No potential of any amount of 'potential' earnings once they go IPO is worth being treated like second class citizens or just a fancier sweat shop.

Advice to Senior Management

Don't be afraid to higher some more seasoned and senior talent for leadership and management positions who can help create structure, processes and tools to help the organization grow and scale with the demand. Sooner or later the lack of these seasoned managers will be what drives profitability down and decrease the potential Facebook has to be come a fortune 500 company.