Pros
Leadership principles in Amazon makes it still work like a start-up by developing leaders in the small teams to own their systems and products. Each development team works like its own start-up, each day the developers are encouraged to think big and show ownership. Being vocally self critical is highly encouraged and it makes the teams openly identify areas to improve and act upon them. Most people are smart and have their own core strengths. The people who stay long are generally seasoned leaders even though they are individual contributors, they look out for mentoring and developing the best. The experience gained working at Amazon is valuable. It can be applied at any other start-up/other big/established company which works similar to a start-up effectively.
Cons
Lots of type A personalities with strong opinions and ideas. If you are able to deal with such members in a team its an advantage. Promotions are hard and can be cut throat. Recognition to the work you have done in terms of getting up the ladder can be challenging. Everyone is smart and hard working which will make it hard to get recognized.