Pros
Coworkers are a fun group of people, and you can wear whatever you want to work - including sweatpants. For those that luck out by adopting a good portfolio, the pay can be well above average. Company activities were fun and free beverages (alcoholic and non), food, and sober rides were provided free.
Cons
I think they allow drinking on the job because that is the only way people could make it through the day without wanting to jump through a window (if your building has windows). Working 60-80 hours per week is normal, and pay is not hourly. Too many things affect your monthly income that have nothing to do with the amount of effort put in, or how good you are at your job. Employees have no effect in management decisions that affect compensation and other changes to policies. The people at the top have no idea what daily work is like for the employees, and all they care about is money. About 3 years ago, this wasn't too bad of a company to work for, but now it is all about scraping as much money as they can out of people and companies with no regard to loyalty of employees or companies. Very cut throat, and managers do not have your back. No opportunities for advancement. Turnover rate is insane, and the working conditions in most of the buildings is terrible with mold, cracks, damage, bugs, rodents, etc.