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The speaker expresses confusion and frustration over the name change of "white out" to "Wite-Out," noting that it is incorrectly spelled without an "h." They question the validity of the new spelling, criticizing it as an imitation and referencing the original product made by a company named Beck. They reminisce about the older product, Liquid Paper, and assert that the term "white out" has historically been used since 1966, with a trademark registered in 1971. Despite their grievances, they conclude that "white out" has always been the correct term, evoking disbelief at the name alteration.