In the context of this thread, I was referring to institutions that conduct basic science (i.e., primarily universities and government agencies) rather than bus

In the context of this thread, I was referring to institutions that conduct basic science (i.e., primarily universities and government agencies) rather than business, which is not the first thing I associate with the label "institution". I think Facebook and the metaverse is a great counter-example, but it also seems to highlight the general trend. I would be very surprised by any institution where power is diffuse understanding the value of avoiding meta-risk. Business can concentrate immense power in the CEO, particularly when they are also the largest shareholder, which enables them to act decisively. I would love to see examples of where groups or co-operative without powerful individuals collectively chose to embrace risk to avoid meta-risk, since they could provide incredibly valuable lessons.