The discussion centers on the degradation of photographs, specifically addressing terms related to photo deterioration. Key points include the causes of fading, such as exposure to air, moisture, light, and chemicals. The conversation touches on various terms like "photo deterioration," "photochemical bleaching," and "photobleaching," which describe the processes involved in the fading and discoloration of images. There is a distinction made between fading due to exposure on paper and overexposure during the photographic process. The importance of proper film fixing to prevent image fading over time is also highlighted.