Higher presentable categories and limits

Abstract

Stefanich generalized the notion of (locally) presentable $(\infty, 1)$-category to the notion of presentable $(\infty, n)$-category. We give a new description based on the new notion of $\kappa$-compactly generated $(\infty, n)$-category, which avoids universe enlargement. Using the new definition, we prove the underlying functor of a morphism between presentable $(\infty, 2)$-categories has a right adjoint. In particular, any presentable $(\infty, 2)$-category has limits. We also prove that this fails drastically when we go higher: The unit presentable $(\infty, 3)$-category, i.e., the category of presentable $(\infty, 2)$-categories, does not have limits. This settles Stefanich's conjecture in the negative.