We show that the motivic spectrum representing algebraic $K$-theory is a localization of the suspension spectrum of $mathbb{P}^infty$, and similarly that the motivic spectrum representing periodic algebraic cobordism is a localization of the suspensi
on spectrum of $BGL$. In particular, working over $mathbb{C}$ and passing to spaces of $mathbb{C}$-valued points, we obtain new proofs of the topologic
