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In this video tutorial, Nick discusses the importance of understanding the different licenses attached to open source software. While most licenses allow you to have various rights over the code, some are more permissive while others are more restrictive. He explains the most commonly used licenses for free and open source software and the rights they grant you. The video is sponsored by Linode, who is offering a hundred dollars to help you deploy your own Linux or gaming server. Linode's app marketplace makes it easy to set up and configure your server with just one click, making it ideal for both development and gaming environments.