Pros
I guess the only part is the flexible schedule.
Cons
1. The founders do not know how to value the employees or the work they do.
2. If you find a loophole, you will be asked to pick it up and solve it. If you try solving it, there's no support. If you don't, one fine day they'll pinpoint and ensure that you do not take up anything in the future.
3. If you're trying to rectify a mistake no one will say a word, but if you do not succeed the founders will come back and ask you why did you take it up in the first place.
4. No process is streamlined. Be it the interview process or the onboarding process.
5. If a process is made, there are high chances it will not be followed in the next month.
6. Too many changes in terms of your roles and responsibilities and your KRA are never quantified. It is always blurry.
7. As an employee, you will have no idea what you're doing, how you're doing?
8. If a problem is identified, people would start playing the blame game.