Answer
$1-y^8$
Work Step by Step
Using $(a+b)(a-b)=a^2-b^2$ or the special product of the sum and difference of like terms, the product of the given expression, $
(1-y^4)(1+y^4)
,$ is
\begin{array}{l}\require{cancel}
1(1)-y^4(y^4)
\\\\=
1-y^8
.\end{array}