Pros
PayPal had good diversity, a good team, easy people to work with, a friendly environment, good remote flexibility, and competitive pay scales. As a "diverse" person myself, I will say I felt very supported and accepted.
Cons
PayPal's internal technology has badly ossified and changing things is nearly impossible. Movement is slow and extremely non-agile. I was part of a team acquired in a merger with a startup. In that acquisition we went from fast exciting work with a clear direction to months and even years of stagnation with almost no progress on anything. PayPal clearly didn't know what to do with either our technology or our talent. Also, I hate to say it but management became much less product- and goal-driven, and much more political, nepotistic, and focussed entirely on short-term investment returns. Promotions and raises depended very heavily on who had personal relationships and past history with higher management. Layoffs, the same.