Pros:

• Don’t require a research project; well suited to teams that would otherwise not use personas at all
• Make team’s implicit assumptions about users explicit, which helps provide the group with a shared direction
• Can be a gateway to future research

Cons:

• Often an inaccurate representation of users; can be an echo chamber for incorrect assumptions
• If the team finds little value in these personas, they can lead to negative attitudes towards personas in general