Model independent arguments following from the Covariant Entropy Principle imply that causal diamonds in the very early universe were entirely filled with a single equilibrated system with finite entropy. A universe where this condition persists forever has no localized excitations. Our own universe appears to be headed toward such a state. Within a few hundred times its current age it will approach a state where our local group of galaxies sit in empty de Sitter space. Eventually, the local group collapse into a black hole, which evaporates. Localized excitations in de Sitter space are low entropy constrained states of the vacuum ensemble. The origin of these constraints must be in the early universe: the apparent horizon must expand after some initial period, in a constrained state that is the origin of all localized excitations in the universe. We argue that in global FRW coordinates, this corresponds to slow roll inflation that ends in a dilute gas of tiny black holes, with mass determined by the inflationary scale. We then review arguments that these black holes can account for the Hot Big Bang, baryogenesis, a distinctive pattern of CMB fluctuations, and possibly primordial black hole dark matter consisting of larger black holes that survive until the matter dominated era. The more complicated question of whether these small black holes can evolve in a way that is consistent with all observational constraints requires computer simulations that have not yet been done.