When governments grow weak, commercial organizations tend to fill the void.
Across a vast region along the Baltic Sea with few strong central authorities in the middle ages, merchant guilds banded together for strength and security until they were effectively their own state with their own military.
Indeed, they clashed with actual kings and princes and because they monopolized trade through the entire region, they usually won.
It was only when centralized government became strong again and the modern concept of a nation-state began to form that the Hanseatic league went into decline.
In our own time:
If I were to ask “Who is the most powerful man in this room?” The answer is not necessarily obvious.
Presently, we see a weakening of both the physical powers and legitimacy of the state. And predictably, we see a corresponding rise of commercial entities as they increasingly exert control over the state itself or take over functions (i.e. space exploration, education) that were previously the preserves of central state power.