I will discuss the astrophysical importance of the recent LIGO/Virgo direct detections of gravitational-waves. Despite majority of the expectations, it was not neutron star mergers being detected first, but the series of exotic massive black hole mergers. I will describe the leading theories of the formation of such black hole systems. I will also comment on a detection of NS-NS merger. This particular detection may provide striking constraints on binary evolution. Several astrophysical implications are beginning to emerge despite the fact that the exact origin of LIGO/Virgo sources is not yet known.