  We elaborate on our earlier proposal connecting entanglement renormalization
and holographic duality in which we argued that a tensor network can be
reinterpreted as a kind of skeleton for an emergent holographic space. Here we
address the question of the large $N$ limit where on the holographic side the
gravity theory becomes classical and a non-fluctuating smooth spacetime
description emerges. We show how a number of features of holographic duality in
the large $N$ limit emerge naturally from entanglement renormalization,
including a classical spacetime generated by entanglement, a sparse spectrum of
operator dimensions, and phase transitions in mutual information. We also
address questions related to bulk locality below the AdS radius, holographic
duals of weakly coupled large $N$ theories, Fermi surfaces in holography, and
the holographic interpretation of branching MERA. Some of our considerations
are inspired by the idea of quantum expanders which are generalized quantum
transformations that add a definite amount of entropy to most states. Since we
identify entanglement with geometry, we thus argue that classical spacetime may
be built from quantum expanders (or something like them).
