Explanation of the first conditional

The podcast discusses the first conditional, which is used to talk about possible future situations and their results. It consists of an if clause in the present simple describing the future situation and a result clause with will plus an infinitive for the outcome. For example, 'If I lose my umbrella, I will buy another one.' Additionally, the podcast explains that 'might' can be used instead of 'will' in the result clause when uncertainty exists. Furthermore, advice can be given using modal verbs like 'should' in the result clause, providing guidance based on the possible future situation.