It's nice to not have a day job while looking for another. I was lucky enough to do this once before in 2012 which turned out great. I learned then that time and flexibility lets you talk to lots of friends and learn about a breadth of projects. I found a fun project in a new domain (online education), something I doubt I'd have found the normal way.
Maybe I'll get lucky again.
Enough small talk, what am I looking for?
I'm looking for some flavor of line manager. I'm a good senior manager and code-every-day engineer; but I'm exceptional leading a team and running a project. That's what line managers do: lead engineers, not other managers or departments or matrix-anything. Also, if you're some kind of executive then coding is an indulgence, and I'd rather it just be part of my job. Mostly I'm talking to small companies, say 10-100 people (fun-size).
Location is important: I don't want to do a daily Menlo Park to San Francisco round-trip. I'd like to work with friends if possible. And I want to do something worthwhile.