It is what you would expect from a startup, will not cater to everyoneThe good things1. The opportunity for career development by directly working on projects.
2. No walls between different departments. Good for those who don't want to be boxed in.
3. Void of bureaucracy.
4. Self-directed learning is encouraged. You are not limited to your title, and will need to learn other skills and adapt.
5. Due to the lack of bureaucracy, you can influence where the company will be heading, to a certain extent.
6. Lax dress code and lots of freedom, as long as you finish the task given.
The challenges1. Lack of bureaucracy also means lack of management. Might not be suitable for those who want management.
2. Benefits and perks are what you'd expect from a small start-up, i.e., not much.
3. A fresh start-up will necessarily lack seniors to guide you. Might not be suitable for those who wants to be handheld.
4. Being able to adapt will require you be fluid. Not suitable for those who want rigid structures.