2 minutes 21, there is false information. Jimmy Wales states that people aren't worried about strangers looking them up and finding old and regrettable things about them, they're worried about friends and family finding it out, and that these people will already know it.
Both parts of this are incorrect. As a person, what would concern me IS that something I did over a decade ago is going to come up every time I meet a stranger, whether that is a job interview, a new acquaintance, a date, whatever. Secondly, we make new friends all the time (at least most of us do) so again, they may not know what we were arrested for twelve years ago or whatever.
The issue, in a nutshell, is that up until now, the damage to how people see you of something diminished over time. It was possible to move on, rebuild your life or get past that.
With the popular indexing of search engines, that changes. You go for a job interview, start dating someone, try to make a friend and suddenly, just through typing in your name, they know that you were raped six years ago, or were arrested for assault, or that your partner died in an accident, or you programmed in Visual Basic or anything. And these things never go away - no matter how long ago, they are the first thing anyone knows about you defining the impression before you even arrive for your interview or whatever.
Regardless of one's position on this, what Jimmy Wales claimed in that interview is untrue. People ARE concerned about strangers knowing all these details about them and it is NOT the case that everyone in your social circle will already know something.
And anyone claiming that knowledge of this kind doesn't impact your life through how people treat you, plainly is familiar with a different type of human being than the species I live amongst.