It from bit symbolizes the idea that every item of the physical world has at bottom — at a very deep bottom, in most instances — an immaterial source and explanation; that which we call reality arises in the last analysis from the posing of yes-no questions and the registering of equipment-evoked responses; in short, that all things physical are information-theoretic in origin and that this is a participatory universe.
American physicist (1911-2008)
John Archibald Wheeler (July 9, 1911 – April 13, 2008) was an eminent American theoretical physicist. One of the later collaborators of Albert Einstein, he tried to achieve Einstein's vision of a unified field theory. He is also known for having coined the term wormhole and the phrase "it from bit". He also popularized the term black hole (In December 1967, a student reportedly suggested the phrase "black hole" at a lecture by John Wheeler; Wheeler adopted the term for its brevity and "advertising value", and it quickly caught on, leading some to credit Wheeler with coining the phrase.).
From: Wikiquote (CC BY-SA 4.0)
From Wikidata (CC0)
Is the very mechanism for the universe to come into being meaningless or unworkable or both unless the universe is guaranteed to produce life, consciousness and observership somewhere and for some little time in its history-to-be? The quantum principle shows that there is a sense in which what the observer will do in the future defines what happens in the past—even in a past so remote that life did not then exist, and shows even more, that 'observership' is a prerequisite for any useful version of 'reality'.