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Nick discusses the various licenses attached to open source software, emphasizing that not all are created equal in terms of rights granted. He explains that while most licenses provide great freedom over the code, some are more permissive while others are more restrictive. Nick then delves into the most commonly used licenses and the specific rights they grant. The video is sponsored by Linode, offering viewers a chance to receive $100 to set up their own Linux or gaming server through the app marketplace for easy deployment.