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In this video tutorial, Greg from SharePoint Maven demonstrates how to hide fields in a SharePoint list or document library using a conditional formula. He presents a document library with two metadata columns: a status column (active/inactive) and an expiration date. Currently, the expiration date field is always visible when users input metadata. Greg explains that he wants the expiration date to only appear when the status is set to active. If the status is marked as inactive, the expiration date field should not be displayed, allowing for a streamlined user experience in managing document metadata based on specified conditions.