The ideas of high risk, high reward projects, value in the tails, etc. are quite common EA positions now. People are usually reminded that they have a low probability of success and that they should expect to fail most of the time. However, most people I know/have heard of who started ambitious EA projects are doing quite well. Examples would be SBF, Anthropic, Alvea, and many more.
My question, therefore, is: Is the risk of failure lower than we expected, or do I just not know the failures? Do I just know the selection of people who succeeded? Is it too early to tell if a project truly succeeded? If so, what are concrete examples of EAs or EA orgs not meeting high expectations despite trying really hard? Is it possible that we just underestimate how successful someone with an EA mindset and the right support can be when they try really hard?
Apply for funding ASAP. Do not burn to much of your savings. Read about Financial Independence (google FIRE / Financial Independence Retire Early) -- I heard somewhere that you have about 78, 657 hours in your career; if you have a wealth engine that can cover your basic living expenses, then you can devote a much larger fraction of that career to risky EA moves. Even if you're good at self-study, you probably a social cohort for what you're doing, especially if your goal is vague. Set yourself a hard deadline to return to the labor market by (I'd suggest less than four to six months, definitely less than 12) if you haven't made some substantive progress that someone is excited about. DO STUFF THAT ISN'T JUST EA OR TECHNICAL -- you've just opened up a massive amount of slack for yourself, take advantage of it to explore some other aspects of life. I started dancing contact improv during the year I was off, and it was BY FAR the most positive thing I've ever done for my mental and physical health and ability to access joy.
Take all this with rock salt. This is just my experiences. I did this in a very different EA scene and a very different economy.