Are strings in string theory actually little black holes?

Question

I sometimes read that strings in string theory are actually little black holes, or can be interpreted that way. Is this true? How is that consistent with that the particle that a string represents depends on the oscillation of the string? I have read that here:

http://www.staff.science.uu.nl/~hooft101/gthpub/BH_interpretation_stringtheory.pdf

and: What is your simplest explanation of the string theory?

(Maimon's answer)

also this: Does gravity require strings? (Also Maimon's answer)

Maimon is referring to the paper "Under the spell of the gauge principle" by tHooft.

The abstract of this paper is:

"ABSTRACT

We explain the principles of the laws of physics that we believe to be applicable for the quantum theory of black holes. In particular, black hole formation and evolution should be described in terms of a scattering matrix. This way black holes at the Planck scale become indistinguishable from other particles. This S-matrix can be derived from known laws of physics. Arguments are put forward in favor of a dlscrete algebra generating the Hilbert space of a black hole with its surrounding space-time including surrounding particles."

Can someone explain this in a none-technical (or semi-technical) language?  Seems like a big deal because I never heard that before. This is also completely absent in popular explanations of string theory. Maybe this also would be a nice entry for the Q&A page.

Comments

PhysicsOverflow is for graduate+ level; so any answers should concentrate on the physical content, not on popular explanations.

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The question is not bad or uninteresting as such, but if you are exclusively looking for  non-technical/popular level answers PhysicsForums for example might be a more appropriate place. On PO, on-topic answers are expected to be rather technical in nature.