Pros
Lots of smart people. Great office location. All the "typical startup" perks. The feeling that, if successful, the app could be used in just about every business that has gathered a fair bit of data.
Cons
Too many people with too high of an opinion of themselves refusing to listen to ideas that do not match their own plan of attack. Resistance to changes that can help the team as a whole and instead do whatever they want and then wonder why things are failing and falling down around them. Engineering spending so much time investing in one tool only to shutter it because someone else thinks they can do better only to shutter that one too because they don't know what they are doing. Starting to sell Vaporware which may, or may not fit into the product vision. No product vision because the team that should be doing that is doing anything except for that. All in all... Sales says that company X needs something to do a deal, then that becomes engineering's next priority item to get out right away no matter how feasible, stable, or fitting to the long term product strategy. Product Management is pretty much not involved at all.