Ruby on Rails is a web application framework created in 2004 by David Heinemeier Hansson. It is built using the Ruby programming language, which was created in 1993. The framework aims to make developing web applications simpler by making things that are simple easy and things that are complex possible. It includes several key components like ActiveRecord for ORM, ActionPack for MVC implementation, and more. The presentation covered topics like asset management, caching, testing, internationalization, and deployment of Rails applications. It concluded by thanking the audience and providing a link to learn more about Ruby on Rails on Locaweb's website.