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In this video tutorial, the presenter introduces the concept of reading a text file into Python. They explain that the easiest way to do this is to have the text file in the same folder as your Python code. They mention a more complex method of reading from a different directory using file join methods but do not elaborate. The presenter offers to cover this in a future video if there is interest. The key point is to ensure the text file is in the same folder as the Python code to simplify the process of reading it into Python.