AFAIK, the reason why entanglement doesn't permit instantaneous information transfer is that, by definition, the quantum state is unknown before you observe it.

AFAIK, the reason why entanglement doesn't permit instantaneous information transfer is that, by definition, the quantum state is unknown before you observe it. While, by observing it you instantly know both sides of the entangled pair, this information itself requires conventional communication to the other party in order to be useful, thereby again restricting communication to the speed of light.