Great culture, weather, and food, at big costs.
Pros: Great culture, food, museums, theater, art, weather, and lots of different ethnic areas if you're willing to drive/sit in traffic to get there.
Cons: Insanely bad traffic, bad smog, comically high cost of living, dirty in many places, people who aren't as warm/friendly/down-to-earth as many other places (generally speaking -- obviously there are exceptions or we never lasted as long as we have), a giant city-wide homeless problem, and, in my opinion, pretty ugly overall.
I've been here for 24 years (came here straight out of college) and now my wife and I are doing our best to get out, as are most of our friends (many of whom already have left). The costs of the good parts are too high to make it a city I'd recommend anyone live long-term, unless you happen to like or fit in with the downsides I've mentioned. So many people describe it as soul-sucking and shallow, and it can absolutely feel that way.
Noel | Santa Monica, CA