It is a famous theorem by Hurwitz that there are only four composition algebras (more exactly, Euclidean Hurwitz algebras): the real numbers, the complex numbers, the quaternions, and the octonions.
But why aren't there five? It would seem that the trivial algebra $\left\{ 0 \right\}$ fits the bill.
Here's the definition I'm using for now: http://en.wikipedia.org/wiki/Composition_algebra
Perhaps it's because a Hurwitz algebra is demanded to be unital, but why not let $1 = 0$ in this case? Perhaps it's because people want to say that all the composition algebras are generated by the smallest such algebra, which wouldn't be true if we included the trivial algebra. But that seems kind of arbitrary to me; if anything, just as arbitrary as including the trivial algebra.
Is there anything deeper? Thanks for the thoughts.