Pros
1. Very smart and rational co-workers/managers, most of them (even the superstars) down-to-earth and approachable. 2. Good salary and some benefits (e.g., food/drinks/outings/events), even for interns. 3. The general atmosphere is very vibrant, morale is very upbeat, and both of these contribute to productivity for sure. 4. The ability to make an impact is incredible - there is already a powerful platform with wide reach, so you are sure to have your work get a "first look", sustained interest depends upon the usefulness of the contribution though. 5. Especially for interns, it is a great feeling to have your opinions heard and respected, even on critical long-term projects. 6. Diverse engineering crowd, unlike other tech. companies like Cisco and Microsoft which are Asian/Indian heavy - this is good or bad depending on your preference.
Cons
1. Because the peer group is so good, expectations run high, as a result many people have to put in long hours. 2. Many engineers do not seem to engage in 20% projects - they can do these only if they find time from their main projects, which, due to point 1 above, is difficult without seriously affecting work/life balance. 3. I hear that career growth within the company is challenging - if you are someone who runs after job titles, this is not the place for you - you might end up having same/similar job titles for many years.