This report reviews what quantum physics and information theory have to tell us about the age-old question, How come existence? No escape is evident from four conclusions: (1) The world cannot be a giant machine, ruled by any preestablished continuum physical law. (2) There is no such thing at the microscopic level as space or time or spacetime continuum. (3) The familiar probability function or functional, and wave equation or functional wave equation, of standard quantum theory provide mere continuum idealizations (...) and by reason of this circumstance conceal the information-theoretic source from which they derive. (4) No element in the description of physics shows itself as closer to primordial than the elementary quantum phenomenon, that is, the elementary device-intermediated act of posing a yes-no physical question and eliciting an answer or, in brief, the elementary act of observer-participancy. Otherwise stated, every physical quantity, every it, derives its ultimate significance from bits, binary yes-or-no indications, a conclusion which we epitomize in the phrase, it from bit. (shrink)