Explore the algebraic analog of the classical localization theorem in this advanced mathematics lecture. Delve into the equivariant cohomology of spaces and its relation to fixed point subspaces. Examine Segal's topological K-theory version and Thomason's extension to schemes. Investigate the application to algebraic stacks and the Atiyah-Bott, Graber-Pandharipande virtual localization formula for structure sheaves. Learn about ongoing research in this field through the speaker's joint work with Adeel Khan and Hyeonjun Park.