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Nick discusses how not all open source software licenses are created equal, with some being more permissive and others more restrictive. He explains that the rights you have regarding the software are defined in the attached license. He then delves into the most commonly used licenses for free and open source software, and the rights they grant you. The video is sponsored by Linode, who provides a $100 credit to deploy your own Linux or gaming server easily through their app marketplace with just one click.