I agree that simple is better as Ockham's Razor supports...here, at a high level, is my take on black holes:
As most know, black holes are a prediction of Einstein’s GTR. In simple terms, if a star is large enough—about a magnitude or greater than our Sun—after it exhausts its energy from nuclear fusion, it will likely implode upon itself. If that happens, the gravitational field it emits (as it occupies a smaller and smaller region of space) will eventually become so great that it will suck everything into it, including its own emitted EM radiation. Imagine an imploding star of this magnitude as a huge vacuum cleaner in space sucking everything into it, from nearby and far away as even light from very distant stars will disappear into it. Einstein's equations further suggest that everything eventually will fall into a point that has no volume and is, by definition, infinitely dense; hence physicists call it a singularity. At this point, the laws of physics break down, as we don’t have laws to explain this event and/or what happens next.
In my theory a black hole is the precise alter ego of the reality we witness and the world we experience. We perceive space and sense time in a linear fashion. A black hole is the antithesis of this. It evaporates space-time. It essentially runs the universal clock backwards. A black hole is, in effect, an anti-star. Stars are emitters; black holes are absorbers. Although the effects are the same, to state that light does not escape a black hole is highly misleading. Black holes do not emit light [or other forms of EM radiation]; they absorb it. Stars exist until they exhaust their hydrogen; therefore, they have finite lifetimes. Black holes exist for all time; i.e., as long as there is time and space available to fuel them. Stars, one could argue, are the engines that effectively spew out time and space. Black holes are the engines which suck in time and space. When there is no more time and space to fuel the black holes, they will explode, creating a new beginning of time and space.
Hawking suggests that matter can escape from black holes by quantum effects; consequently, a black hole can evaporate. I disagree. Time and space run backwards in a black hole; it’s a one-way street. There is no condition in which a black hole will stop sucking in time and space as long as time and space exist.
It is thought that the opposite of a black hole is a white hole. It is assumed that white holes emit matter and EM radiation [from the singularity]; thereby making them the time-reversal of a black hole. I contend that white holes are needlessly complex, and we do not need to invent them. I propose that garden-variety stars in the heavens are the precise opposites of black holes. If you were to film a star and then run the film backwards [keeping in mind that most physical theories are independent of the direction of time] you would, using the term loosely, witness the effects of a black hole. We haven’t found evidence of exotic white holes because they do not exist…they are simply stars.
The pure elegance and symmetry of this model is its allure. Stars create EM radiation, black holes absorb it. Stars create space-time with their emitted energy; black holes absorb space-time. Eventually, when stars die out and cannot create more space-time; black holes will morph from absorbers to emitters and create new universes and start time and space anew.