Colpitts oscillator not functioning
If R2 is the same value as R3 then they will project a DC voltage onto the base of about 50% of Vcc. The emitter will be about 0.7 volts below that. The emitter current will then be approximately half Vcc minus 0.7 volts divided by Re.

I know it is a Colpitts oscillator but the part where I get confused
is that in the video on youtube it says we can set Ve = 1/2VCC

By making R2 a little smaller than R3, the base voltage can be adjusted to be half Vcc plus 0.7 volts thus, the emitter voltage will be half Vcc.