We study the statistical underpinnings of life, in particular its increase in order and complexity over evolutionary time. We question some common assumptions about the thermodynamics of life. We recall that contrary to widespread belief, even in a closed system entropy growth can accompany an increase in macroscopic order. We view metabolism in living things as microscopic variables directly driven by the second law of thermodynamics, while viewing the macroscopic variables of structure, complexity and homeostasis as mechanisms that are entropically favored because they open channels for entropy to grow via metabolism. This perspective reverses the conventional relation between structure and metabolism, by emphasizing the role of structure for metabolism rather than the converse. Structure extends in time, preserving information along generations, particularly in the genetic code, but also in human culture. We argue that increasing complexity is an inevitable tendency for systems with these dynamics and explain this with the notion of metastable states, which are enclosed regions of the phase-space that we call “bubbles,” and channels between these, which are discovered by random motion of the system. We consider that more complex systems inhabit larger bubbles (have more available states), and also that larger bubbles are more easily entered and less easily exited than small bubbles. The result is that the system entropically wanders into ever-larger bubbles in the foamy phase space, becoming more complex over time. This formulation makes intuitive why the increase in order/complexity over time is often stepwise and sometimes collapses catastrophically, as in biological extinction.