Equivariant $K$-theory as a global localization
We establish a global equivariant refinement of the theorem of Snaith that presents the complex $K$-theory spectrum as a localization of the suspension spectrum of $\mathbb C P^\infty$. We prove that the morphism of ultra-commutative global ring spectra from $\Sigma^\infty_+ B_{\text{gl}} U(1)$ that classifies the taut...