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In this video, Stephen Key discusses how to license big ideas, presenting examples of successful simple ideas that have been licensed and generated significant revenue. These ideas include the Whiskey Wedge, the Glide Mat, and the Multi-Gripped Mandolin. The Whiskey Wedge, a simple yet profitable idea, has brought in substantial royalties. The Glide Mat, created by Michelle Morrison, is a popular item on QVC due to its simplicity. The Multi-Gripped Mandolin is a kitchen tool designed to prevent finger cuts while chopping vegetables, catering to cooking enthusiasts. Licensing these types of simple ideas can lead to successful products and lucrative opportunities.