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In this video tutorial, Greg from SharePoint Maven demonstrates how to hide fields in a SharePoint list or document library based on conditional formulas. He uses a document library with two metadata columns: a status column (with values active and inactive) and an expiration date column. Currently, the expiration date field is always visible when users fill out metadata. Greg explains that he wants the expiration date field to appear only when the status is set to active. If the status is marked as inactive, the expiration date field should not appear, helping streamline data entry and maintaining clarity in the document library.