The black hole information problem and the question of a microscopic derivation of Bekenstein-Hawking entropy of black holes have up to now only been addressed successfully in very few examples. I will outline some model independent general features that any microscopic theory of black holes should incorporate. In particular, I motivate an effective low energy description of black holes via Stückelberg modes of large diffeomorphisms. I will then point out striking similarities to the physics of quantum phase transitions and demonstrate that many features of black holes can be understood by treating them as Bose condensates of gravitons. Consequences of this approach are discussed, as well as limitations and future directions.

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