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Nick explains that not all open source software licenses are the same. The rights you have over the code depend on the license attached to the software. Some licenses are more permissive, granting you more rights, while others are more restrictive. The video explores commonly used licenses for free and open source software, detailing the rights they grant. The sponsor, Linode, offers $100 to help you set up your own Linux or gaming server, making deployment easy with their app marketplace and one-click deploy feature.