There's a kind of inconsistency in that he ends the video talking about overpriced stocks and how it's hard to short them but the title is about the $1.75tn in debt which seems to mostly be from professional investors, apparently:

>JPMorgan Chase and Morgan Stanley, private equity and credit giants like Blue Owl Capital, BlackRock, and PIMCO, alongside international commercial banks

who probably know what they are doing and read the footnotes.

My guess is that the lending is actually ok because there's a lot of real demand for compute. $1.75 tn is about 1.4% of global GDP which doesn't seem that silly in the AI boom.