Recent work have raised the intriguing possibility that the activity seen in most active galactic nuclei (AGN) is powered solely by young stars and supernova remnants in a burst of star formation at the time when the metal rich core of the spheroid of a normal, albeit young galaxy, was formed. The predicted emitted multifrequency spectrum, line width, variability and luminosity function of the young cores of ellipticals, are indistiguishable from those observed in Quasars. Only a small fraction (~5%) of the total mass of elliptical galaxies, the core mass, is needed to explain the observed luminosities and luminosity function of Quasars at z≥2.0.