What else are you considering?
Rationality training and community-building, basically.
But I just submitted my FLI grant application for the concept learning project anyway. :-)
Rationality training by itself is worse than useless. Apply things in practice or you risk building free-floating castles detached from any practical application. A basic rule of thumb: if you spend more than 10-15% of your time on meta improvements, you are probably accomplishing less in your life than you could be. That means 85% to 90% of your time should be spent doing actual work.
As for community building, if that floats your boat, sure why not. I'm hoping you choose the FLI grant instead however :)
As a follow-on to the recent thread on purchasing research effectively, I thought it'd make sense to post the request for proposals for projects to be funded by Musk's $10M donation. LessWrong's been a place for discussing long-term AI safety and research for quite some time, so I'd be happy to see some applications come out of LW members.
Here's the full Request for Proposals.
If you have questions, feel free to ask them in the comments or to contact me!
Here's the email FLI has been sending around: