This video guides Mac users through installing Python 3.7+ and VS Code. It covers downloading Python from the official site, verifying installation via the terminal, downloading and installing VS Code, installing the Python extension in VS Code, and creating a project folder. Finally, it shows how to select a Python interpreter within VS Code. This segment demonstrates how VS Code automatically selects a Python interpreter upon creating a new `.py` file, highlighting the ability to manage multiple Python versions and switch interpreters on a per-project basis for flexibility in development. The speaker explains how to manually select an interpreter if needed, showcasing the "Python Select Interpreter" command in the command palette and detailing how to specify the path to a different Python version if necessary.