In the beginning, there were bacteria.... [A] nearly universal assumption is that all subsequent life descended from the original life form through a continuous chain of ancestor-descendant pairs. This assumption looks good because all living organisms share biochemical traits. It is conceivable, of course, that life originated more than once on the early earth but that all except one life form died out early, leaving a single lineage as the ancestor of life as we know it. If this did happen, it was the first important species extinction.