We propose that cosmological gamma‐ray bursts are produced when modestly sized black holes tidally disrupt stars, energizing relativistically outflowing jets and producing bursts for favorably oriented observers. The crucial test of this model is the detection of soft x‐ray flares with durations of ∼102 s and fluences ∼10−10−10−6 ergs cm−2 at rates of several to several hundred per day, reflecting burst events from misaligned jets.