1. Europe can't do computers. This is bad for them, because foreign companies, who can do computers, make money in Europe and beat out the local competition.
2. But the EU has discovered that it can extract money by threatening to ban the foreign companies for reasons of privacy, data protection etc.
3. Since the EU is a valuable market, the companies accept the fines as a price of doing business.
4. Italy is getting in early by firing a shot across the bows of OpenAI, which is not yet a huge moneymaker, but may be in future.
1. Europe can't do computers. This is bad for them, because foreign companies, who can do computers, make money in Europe and beat out the local competition.
2. But the EU has discovered that it can extract money by threatening to ban the foreign companies for reasons of privacy, data protection etc.
3. Since the EU is a valuable market, the companies accept the fines as a price of doing business.
4. Italy is getting in early by firing a shot across the bows of OpenAI, which is not yet a huge moneymaker, but may be in future.