Pros
If you enjoy being in a state of constant anxiety and panic about being laid off, this is the perfect job for you. I also learned a lot about how not to run a business.
Cons
Everything else. Riddle: What do you get when you have a checked out CEO, a former CEO who is a consulting CTO for other companies while also taking a large salary and doing nothing and a COO who plays on Facebook all day and finds ways to give himself large bonuses? Answer: Frequent layoffs of the people who made them their money. They have a single account keeping the company alive. They let go of marketing, most of sales and most recently, all of management. Every single person I have spoken with that is still employed is currently interviewing or have already put in their notice.