Will OpenAI get into serious legal trouble for something related to privacy in Europe?
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"Serious legal trouble", for the purposes of this market, includes being forced to come into compliance with existing laws in a non-trivial way, whether or not any fines are actually levied on OpenAI.

It does not include its AIs being banned or blocked (which has already happened in Italy) or OpenAI denying access to its products itself in a country. I am interpreting such bans as a way to avoid such serious potential legal problems by not operating in a country.

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