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Oscar Veliz introduces fixed point iteration as an approach to finding roots by setting f(x) to zero and rewriting it so that x equals something. The process involves labeling the left and right sides, picking an initial x, plugging it into the equation, and repeating until convergence. For example, to find the root of x^2 - x - 1 = 0, set x in terms of something like x = 1 + 1/x. Another way is to say x^2 - x = 1, leading to x = 1. Fixed point iteration involves iterative calculations to find the root of the equation.
