  I argue that, on the subjective Bayesian interpretation of probability, "it
from bit" requires a generalization of probability theory. This does not get us
all the way to the quantum probability rule because an extra constraint, known
as noncontextuality, is required. I outline the prospects for a derivation of
noncontextuality within this approach and argue that it requires a realist
approach to physics, or "bit from it". I then explain why this does not
conflict with "it from bit". This version of the essay includes an addendum
responding to the open discussion that occurred on the FQXi website. It is
otherwise identical to the version submitted to the contest.
