The text discusses different types of bearings and their functions. There are two main types: radial bearings, which support vertical loads, and axial bearings, which support loads parallel to the axis of rotation. Different types of bearings include ball bearings, which can only handle axial loads, and cylindrical roller bearings, which can handle high radial loads. The video explains the various types of bearings and their uses, including self-aligning roller bearings which are particularly sturdy. These bearings are designed to reduce friction and withstand radial loads such as rotating shafts.