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This video tutorial discusses options for converting speech to text, focusing on the best free speech to text APIs and open source libraries. The speaker highlights the excitement and challenges of speech recognition and the availability of existing solutions. Viewers are presented with two main options: using an API or an open source library, both of which have advantages and disadvantages. The video emphasizes that the listed services offer a free tier, making them accessible for simple projects or starting an MVP. By explaining the benefits and drawbacks of each approach, the video assists viewers in choosing the best solution for their speech to text conversion needs.