Yes. Fossils don't form easily. [quote]Organisms are only rarely preserved as fossils in the best of circumstances, and only a fraction of such fossils have been discovered. This is illustrated by the fact that the number of species known through the fossil record is less than 5% of the number of known living species, suggesting that the number of species known through fossils must be far less than 1% of all the species that have ever lived. Because of the specialized and rare circumstances required for a biological structure to fossilize, only a small percentage of life-forms can be expected to be represented in discoveries, and each discovery represents only a snapshot of the process of evolution. The transition itself can only be illustrated and corroborated by transitional fossils, which will never demonstrate an exact half-way point. The fossil record is heavily slanted toward organisms with hard parts, leaving most groups of soft-bodied organisms with little to no role. It is replete with the mollusks, the vertebrates, the echinoderms, the brachiopods and some groups of arthropods.[/quote]