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Nick explains that not all open source software is the same, as the rights you have are defined by the license attached to the software. Some licenses may be more permissive, while others are more restrictive. He discusses the most commonly used licenses for free and open source software and the rights they grant. The video is sponsored by Linode, which offers $100 to set up your own Linux or gaming server. Linode's app marketplace makes it easy to deploy a server with just a few clicks, suitable for both development and gaming purposes.