Simulation Theory- Is Reality Simulated?

Elon Musk has argued that we almost certainly live in a simulated reality. Is he correct? This documentary explores the philosopher Nick Bostrom’s now famous Simulation Argument, and the possibility that we live in a simulation created by an advanced civilization.
The simulation hypothesis is a proposal regarding the nature of existence which posits that all of existence is an artificial simulation, such as a computer simulation.
A simulation is a model that mimics the operation of an existing or proposed system, providing evidence for decision-making by being able to test different scenarios or process changes. This can be coupled with virtual reality technologies for a more immersive experience.
Some people believe that the chances we live in a simulated universe are 50/50. Fun, right?