0NMX
Theorem 6.7. The functor inverts Morita equivalences, preserves filtered colimits, and sends split-exact sequences in to cofiber sequences in .
Moreover, is universal with respect to these properties,
i.e., given any pointed presentable -category , we have an equivalence of -categories
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where the right-hand denotes the full subcategory of
of morphisms of -categories which satisfy
the above conditions.
0NMY
Proof. The result follows from definition 2.14,
lemma 6.4 and from the universal property of Bousfield
localization (see section 2.5: The functor
preserves filtered colimits and by proposition 5.27
any split-exact sequence can be approximated by a filtered colimit of
split-exact sequences in ).
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