A Proper Explanation Of The “Anti-Gravity Wheel”?

In this video a youtuber from Veritasium channel attempt to lift a 19kg (42 lbs) wheel over his head one-handed while it’s spinning at a few thousand RPM.

This replicates an earlier experiment by Professor Eric Laithwaite. He claimed the wheel was ‘light as a feather’ and could not be explained by Newton’s Laws.