Disney’s investment in OpenAI, reported at around a billion dollars, has been discussed mostly as a content deal. Legal scholars looking at it have raised a different concern, and it deserves more attention than the headline number. The worry is enclosure. When the largest content owners sign exclusive or near-exclusive arrangements with the largest AI companies, the effect isn’t just a transfer of money. It removes material from the pool available to everyone else and raises the entry price for anyone trying to build a competing system.