I will first review and explain some basic facts about the thermodynamics of quantum black holes and the puzzles and paradoxes that their existence apparently implies. I will discuss some of the proposed resolutions and some of the lessons that string theory and the AdS/CFT correspondence have taught us.

Then I will present my (still controversial) approach to understanding Quantum Black Holes: the entanglement approach. This approach considers the fundamental physical objects to be the global quantum state of the black hole and the unitary quantum evolution operator. This entanglement approach has several obvious advantages: it leads naturally to area-law entropy and it can incorporate the observer dependence of black hole thermodynamics. It also has some unresolved issues and open problems.