The stability problem for extremal black holes

I present a series of conjectures aiming to describe the general dynamics of the Einstein equations of classical general relativity in the vicinity of extremal black holes. I will reflect upon how these conjectures transcend older paradigms concerning extremality and near-extremality, in particular, the so-called “third law of black hole thermodynamics”, which viewed extremality as an unattainable limit, and the “overspinning/overcharging” scenarios, which viewed extremality as a harbinger of naked singularities. Finally, I will outline some of the difficulties in proving these conjectures and speculate on what it could mean if the conjectures turn out not to be true.