Quantum gravity, the initial low entropy state of the Universe, and the problem of time are interlocking puzzles. In this article, we address the origin of the arrow of time from a cosmological perspective motivated by a novel approach to quantum gra
vitation. Our proposal is based on a quantum counterpart of the equivalence principle, a general covariance of the dynamical phase space. We discuss how the nonlinear dynamics of such a system provides a natural description for cosmological evolution in the early Universe. We also underscore connections between the proposed non-perturbative quantum gravity model and fundamental questions in non-equilibrium statistical physics.
We construct the microstates of near-extremal black holes in AdS_5 x S^5 as gases of defects distributed in heavy BPS operators in the dual SU(N) Yang-Mills theory. These defects describe open strings on spherical D3-branes in the S^5, and we show th
at they dominate the entropy by directly enumerating them and comparing the results with a partition sum calculation. We display new decoupling limits in which the field theory of the lightest open strings on the D-branes becomes dual to a near-horizon region of the black hole geometry. In the single-charge black hole we find evidence for an infrared duality between SU(N) Yang-Mills theories that exchanges the rank of the gauge group with an R-charge. In the two-charge case (where pairs of branes intersect on a line), the decoupled geometry includes an AdS_3 factor with a two-dimensional CFT dual. The degeneracy in this CFT accounts for the black hole entropy. In the three-charge case (where triples of branes intersect at a point), the decoupled geometry contains an AdS_2 factor. Below a certain critical mass, the two-charge system displays solutions with naked timelike singularities even though they do not violate a BPS bound. We suggest a string theoretic resolution of these singularities.
