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Nick discusses how not all open source software licenses are the same, and the rights you have over the code are defined by the specific license attached to the software. Some licenses are more permissive while others are more restrictive. He explores the most commonly used licenses for free and open source software, explaining the rights they grant you. The video is sponsored by Linode, offering $100 to set up your own Linux or gaming server. Deploying a server with Linode is made easy through their app marketplace, where you can choose from various apps, configure options, and deploy with just one click.