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Nick discusses how not all open source software is equal, as the rights granted are defined by the license attached to the software. Some licenses are more permissive while others are more restrictive. He outlines the most commonly used licenses for free and open source software and the rights they grant. The video is sponsored by Linode, which offers $100 to set up a Linux or gaming server through their app marketplace, making deployment easy and simple for both development and gaming environments.