We've come a long way in 13.8 billion years; but despite our impressively extensive understanding of the Universe, there are still a few strings left untied. For one, there is the oft-cited disconnect between general relativity, the physics of the very large, and quantum mechanics, the physics of the very small. Then there is problematic fate of a particle's intrinsic information after it falls into a black hole. Now, a new interpretation of fundamental physics attempts to solve both of these conundrums by making a daring claim: at certain scales, space and time simply do not exist.
Let's start with something that is not in question. Thanks to Einstein's theory of special relativity, we can all agree that the speed of light is constant for all observers. We can also agree that, if you're not a photon, approaching light speed comes with some pretty funky rules – namely, anyone watching you will see your length compress and your watch slow down.
But the slowing of time also occurs near gravitationally potent objects, which are described by general relativity. So if you happen to be sight-seeing in the center of the Milky Way and you make the regrettable decision to get too close to our supermassive black hole's event horizon (more sinisterly known as its point-of-no-return), anyone observing you will also see your watch slow down. In fact, he or she will witness your motion toward the event horizon slow dramatically over an infinite amount of time; that is, from your now-traumatized friend's perspective, you never actually cross the event horizon. You, however, will feel no difference in the progression of time as you fall past this invisible barrier, soon to be spaghettified by the black hole's immense gravity.
So, who is "correct"? Relativity dictates that each observer's point of view is equally valid; but in this situation, you can't both be right. Do you face your demise in the heart of a black hole, or don't you? (Note: This isn't strictly a paradox, but intuitively, it feels a little sticky.)
And there is an additional, bigger problem. A black hole's event horizon is thought to give rise to Hawking radiation, a kind of escaping energy that will eventually lead to both the evaporation of the black hole and the destruction of all of the matter and energy that was once held inside of it. This concept has black hole physicists scratching their heads. Because according to the laws of physics, all of the intrinsic information about a particle or system (namely, the quantum wavefunction) must be conserved. It cannot just disappear.
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