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In the video, the speaker discusses the common practice of quickly agreeing to Terms of Service Agreements without reading them, emphasizing that this is typical for many users. A study indicates it would take around 250 hours annually for an average person to read all such agreements. Seth Stephenson, a senior writer for Slate, notes that the primary purpose of these agreements is to protect companies from legal liabilities. He points out that if the agreements were truly beneficial for users, they would be prominently displayed, instead of being buried in small print that requires multiple clicks to access.