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Some evidence (Bekenstein, Hawking, Jacobson, Verlinde, ...) points to the idea that gravity is really a thermodynamic theory in disguise. Other evidence (Susskind, Maldacena, Witten, ...) points to the idea that gravity is dual to a lower dimensional conformal field theory (CFT). Are these two ideas mutually compatible? Can they both be true, and does it mean that some CFT's are really thermodynamic theories in disguise?