CONSTANT buffering on fcpx on new macbook pro 2020

I upgraded my macbook from a 2012 macbook air to a macbook pro 2020 to have a better video editing experience. Low and behold...it's actually *worse* on my brand new macbook pro.

The FCPX app is constantly freezing and buffering. It also never shows that it is completely uploaded to youtube (just stops at 50% but keeps uploading...I've read about it on other threads). Something seems seriously wrong. The largest videos I'm working with are still under 4GB. I'm not new to fcpx, but I just use it as a hobby, so it's possible I'm working with it incorrectly. However, I didn't have any issues on my Air.

specs:

16GB ram

2 GHz Quad-Core Intel Core i5

Intel Iris Plus Graphics 1536 MB