Out of Africa or multiregional

Which hypothesis is correct, leaving aside that the majority of academia chooses the first one for unknown reasons? The limited fossil record seem to match both.

Genetic evidence points pretty strongly to a common African ancestor. Also, archaeological evidence suggests that humans did not evolve separately from various hominids and then interbreed.  Rather, homo sapiens evolved in Africa, and proceeded to force these competing species into extinction as homo sapiens migrated into Europe and Asia.