Pros
No dress code. No commute. No meetings where six people argue about a font. I set the hours, pick the clients, choose the tools, and if I want to take a "lunch break" at 3:47 PM, nobody files a ticket about it. Full autonomy. Full ownership. If I do great work, the client is happy and I get paid. If I do terrible work, the client is unhappy and I also don’t get paid. Very clean system.
Cons
Benefits package is a handwritten note that says "good luck." Payroll is a suspense novel. Vacations are fictional, like unicorns and "quick emails." HR is me arguing with me, and somehow both of us are wrong. Every department is understaffed, because every department is also me. Taxes feel like I' m donating blood to a vampire that owns a yacht. Also, the boss is always watching... because the boss is in my skull at 2 AM going, “Did we follow up with that guy?”