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Nick discusses the importance of understanding open source software licenses, which determine the rights you have over the code. Some licenses are more permissive, allowing you to have more rights, while others are more restrictive. He explores the most commonly used licenses for free and open source software and the rights they grant you. This video is sponsored by Linode, offering $100 to deploy your own Linux or gaming server through their easy-to-use app marketplace. Starting is simple with configuration options and one-click deployment.