Astronomical observations of last few years have presented a surprising evidence that the Universe at redshift of order 10 is densely populated by supermassive black holes (quasars), supernovae, and contains very large amount of dust. All these data are in conflict with the canonical theory of quasar and supernova formation. A model is discussed which in a simple and natural way solves all these problem. In addition it explains an existence of supermassive black holes in each large galaxy and even in small ones. An inverted picture of galaxy formation is suggested when primordial black holes serve as seeds of galaxy formation. Simultaneously the origin and properties of black hole binaries, sources of gravitational waves registered by LIGO are explained. As a by-product the model may lead to abundant cosmological antimatter even in the Galaxy.