The Share command will now send shareable links by default rather than granting permissions to specific people like the old invite people tab. Share will now do the same thing as copy link, though it will also enable users to send links via email. Here is how it works.

Both the Share and Copy link commands are now default to the same permissions and use the same link settings. Users can change settings on sharing links to one of three possible permission levels:

• Anyone with this link: A shareable link that can be sent to others. It behaves like email. You can forward it to others or add people to the thread and it will work. This option does not require recipients to sign-in and hence is the most convenient for recipients. Use this for sharing content that can be freely shared with others, including people outside your tenant.
• Only people in [tenant]: Users who open the link must sign-in or be signed-in to a non-guest account in the tenant. It behaves like email with restrictions on it. You can forward it to others or add people to the thread, as long as the people added are inside your tenant. If any external user gets a hold of the link, they will not be able to use it. Use this for sharing internal-only content.
• Specific people: Grant permission only to the people you list. The link will only work for those people (and others who already have access to the item). If recipients want to send this link to anyone else, they need to ensure those recipients have been granted permission to the resource, otherwise the link won’t work. This option produces behavior similar to the “Invite people” tab in the old sharing UI.

Admins who want to change the default link permission will be able to do so in the OneDrive Admin Center and the SharePoint Admin Center. This new share user interface will rollout late in the Spring to OneDrive for Business on the web, SharePoint Online document libraries on the web, Windows File Explorer context menu for sync’ed files (“Share” command,) and the MacOS Finder context menu for sync’ed files.