Proposition 8.3.The functor preserves -filtered colimits and sends split-exact sequences
in to (split) cofiber sequences
in .
Moreover, is universal with respect to these two properties, i.e., given any stable presentable -category , we have an equivalence of -categories
where the right-hand side denotes the full subcategory of
of morphisms of -categories which satisfy
the above two conditions.
Proof.The result follows from the analogue of the argument for
lemma 6.4 in the context of -compact objects
and , and from the universal property of Bousfield
localization (see section 2.5 the functor
preserves -filtered colimits and
proposition 5.27 shows that any split-exact sequence
can be approximated by a -filtered colimit of split-exact
sequences in ).
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