Video URL http://pirsa.org/21100023
We will begin by explaining the black hole information paradox, starting from first principles. We will then explain how computations in string theory yield a resolution of this paradox. When we make a bound state of strings and branes, then this bound state is found to swell up into a horizon sized `fuzzball'; this fuzzball radiates like a normal body without any information loss. The existence of these fuzzballs implies a new picture for the quantum gravitational vacuum, where the virtual fluctuations resemble the scale free fluctuations at a second order phase transition, rather than being confined to within the planck scale. We will see how this `vecro' picture of the vacuum might give a resolution to several puzzles we face in cosmology, like the origin of energy needed for inflation and the existence of a cosmological constant.