Pros
A wild west mentality, can do pretty much whatever you want if you are in with the right people. No accountability, no board of directors, no stake holders except the members of the family, so play by their rules and you will go far.
Cons
If you have any opinions that are contrary to the toxic and damaging company culture, keep them to yourself. Heaps of problematic micro-aggresions flying around. Toxic masculinity (if you are female - prepare yourself - and except significantly less money) and very few people of colour. Higher level positions only go to family. Poor pay, no autonomy, employees viewed not as valuable team members but as tools to keep the family bank account growing. People throwing each other under the bus constantly, and very high turnover.