Duplicate conetn is okay for seo apparently

According to Matt cutts who is head of google spam team at google obviously (just said that ;))duplicate content is okay and you wont always get penalized for it only if you are doing it to manipulate the search results does it become a problem and does panda penalize you.. Well that is what the latest YouTube video is saying.. which goes against everything people have been saying you should be doing in the seo world for 2 years now.. complete madness really... BUT I must point out even though according to Matt that 30% of the internet is duplicate content is it 100% legal content after all you need rights to copy and republish content and thus if you do go copying and pasting left right and center other people content you may get dmca request for you web pages to be taken off google completely.. worse than a penalty. Too many are also said to effect your overall domains ranking power and trust as well.