At around 8 minutes he says that we want a number which makes only the denominator zero, not both the numerator and denominator zero. Later on he explains that the number on which it was 0/0 is a hole and not an asymptote.
What is the reason for this? Why are numbers on which the function is 0/0 holes and on which only the denominator is zero are asymptotes?
This isn't necessarily true. For example, $f(x) = x/x^2$ has an asymptote at $x=0$ but is of the form $0/0$. What he probably means is that if you have something like $$g(x)=\frac{(x-1)(x+1)}{x-1}$$ then the $(x-1)$ cancels from numerator and denominator, in which case the function looks like $g(x) = x+1$ everywhere except $x=1$ where it has a hole (because it isn't defined).