Where are the states of a black hole?

We argue that bound states of branes have a size that is of the same order as the horizon radius of the corresponding black hole. Thus the interior of a black hole is not `empty space with a central singularity', and Hawking radiation can pick up information from the degrees of freedom of the hole.Comment: 7 pages, 2 figures, LaTeX (Talk given at `Quantum Theory and Symmetries', Cincinnati, September 2003