Waymo

Really cool projects. I mean, who doesn't want to see how the self-driving car is made?

Earn Waymo equity, which may be worth a ton someday (but who knows for sure?).

Work with really smart, talented people (for the most part).

Inspiring: feels like you're working on a really important, world-changing problem.

Subsidiary of Alphabet means you're taken really good care of. You have access to most Google perks.

The HR team is best in class.

This is NOT Google. If you come to Waymo thinking it will be just like Google, it's not. The culture is very different, and the managers are generally very narcissistic, self-interested and unsupportive of their people (except for the sycophants, who are rapidly taking over the company). You must play politics to succeed and go along with group-think.

Each team is different and has its own culture and pros and cons. One team may be easy to submit code but suffers from tremendous technical debt, while another team is near impossible to submit code and progress moves at a snail's pace. It's possible that you may be well suited for one team's culture and find yourself like a fish out of water on another. There's no way to know before you get there. Transferring internally is a thing, but some managers may try to block you if they don't like you (see: politics).

The people managers are almost universally terrible. Waymo does not hire good people managers; they hire star individual contributors who turn into awful managers that repel talent.

Senior leadership seems dysfunctional and delusional. Some goals they set are obviously unrealistic and going in the wrong direction, but they do it anyways and make excuses when it fails. It's really hard to trust that they're making the right decisions, but you just have to put up and shut up.

Dingy, noisy office building, does not feel "nice" like other Google offices. It's sufficiently far from the Google main campus that many amenities are inconvenient (e.g., decent massages, any other cafes or food trucks).

Waymo equity is mostly illiquid, so a big part of compensation feels like Monopoly money. Living in the Bay Area is expensive, so it may be hard to have a good life with just salary+bonus (good luck buying a house while you wait for liquidity).

Need to clean house in middle-upper management layers and bring in good people managers. Many other problems would resolve themselves if the company was being managed better, and the individual contributors valued more.