The paper introduces three postulates to reconcile black hole evolution with quantum theory, semi-classical general relativity, and statistical mechanics. These postulates are applied to a "stretched horizon" or membrane description of black holes, suitable for distant observers. The technical analysis is illustrated using a simplified 1+1 dimensional dilaton gravity model. The postulates imply that the dissipative properties of the stretched horizon arise from coarse-graining of microphysical degrees of freedom. A principle of black hole complementarity is advocated, similar to 't Hooft's but with a different implementation. The paper discusses the formation and evaporation of black holes, the concept of a stretched horizon, and its statistical fluctuations, leading to the conclusion that information is not lost but stored in long-time, non-thermal correlations between Hawking radiation quanta.The paper introduces three postulates to reconcile black hole evolution with quantum theory, semi-classical general relativity, and statistical mechanics. These postulates are applied to a "stretched horizon" or membrane description of black holes, suitable for distant observers. The technical analysis is illustrated using a simplified 1+1 dimensional dilaton gravity model. The postulates imply that the dissipative properties of the stretched horizon arise from coarse-graining of microphysical degrees of freedom. A principle of black hole complementarity is advocated, similar to 't Hooft's but with a different implementation. The paper discusses the formation and evaporation of black holes, the concept of a stretched horizon, and its statistical fluctuations, leading to the conclusion that information is not lost but stored in long-time, non-thermal correlations between Hawking radiation quanta.