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Nick discusses the importance of understanding the licenses attached to open source software, which define the rights you have over the code. He explains that not all open source licenses are created equal, as some are more permissive while others are more restrictive. He delves into the most commonly used licenses and the rights they grant. The video is sponsored by Linode, who is offering a hundred dollars to set up a Linux or gaming server. Linode's app marketplace makes deploying a server easy with just a few configuration options and a click. It is suitable for both development environments and gaming servers.