Pros
Netflix does have some great benefits. They offer hourly employees a good starting wage, the break room is stocked with snacks, and employees receive a free Netflix plan. As an exempt employee the wages are great, much better than other companies. The freedom to take time off as you'd like is great, it's unlimited for exempt employees.
Cons
If you accept a job at Netflix, you'll probably be pretty happy at first. You'll feel liberated by how much "freedom and responsibility" you're given. You'll be allowed to complete things without much as far as guidelines and you'll be allowed to work from home if you'd like. However, as soon as you complete something that someone doesn't like, you'll feel differently. Your first mistake could easily be your last. There aren't second chances and no one is safe from being "let go". My advice to prospective Netflix employees: have a savings and jump ship as soon as you can. It's only a matter of time before you're asked to go to a conference room and find yourself starring at a red Netflix packet...