Avantages
The team (even the management, except the CEO) although in the beginning were amateurs they quickly evolved to a functioning office with a really great product, revolutionary ideas and a fantastic business model. People really new each other, partied with each other all the time and made lots of out of the office activities together...
Inconvénients
Even though the CEO has surrounded himself in the later years with so called "experts" he rather listened to his "best" people within the company who had no idea how or what to do, but almost all failures were overlooked since they were on the "inside" team. People were fired for personal rather than professional reasons, talents were overlooked simply because they were not partying hard enough, others were promoted for being able to hold the liqueur. Management was at the time a bunch of amateurs with no real future plans, since the company "reinvented" itself every 3-6 months (depending on which of the CEO's friends had a great idea). My biggest problem with the company was, that it could have continued to be the fantastic thing it was in the beginning...