We verify a conjecture of Rognes by establishing a localization cofiber sequence of spectra $K(\mathbb{Z})\to K(ku)\to K(KU) \to\Sigma K(\mathbb{Z})$ for the algebraic$K$-theory of topological$K$-theory. We deduce the existence of this sequence as a consequence of a dévissage theorem identifying the$K$-theory of the Waldhausen category of finitely generated finite stage Postnikov towers of modules over a connective $A_\infty$ ring spectrum$R$with the Quillen$K$-theory of the abelian category of finitely generated $\pi_{0}R$ -modules.

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Let ϕ be an analytic function defined on the unit disk$D$, with ϕ($D$)⊂$D$, ϕ(0)=0, and ϕ′(0)=λ≠0. Then by a classical result of G. Kœnigs, the sequence of normalized iterates Φ_{$n$}/λ^{$n$}converges uniformly on compact subsets of$D$to a function σ analytic in$D$which satisfies$σ$°φ=λ$σ$. It is of interest in the study of composition operators to know if, whenever σ belongs to a Hardy space$H$_{$p$}, the sequence Φ_{$n$}/λ^{$n$}converges to σ in the norm of$H$_{$p$}. We show that this is indeed the case, generalizing a result of P. Bourdon obtained under the assumption that ϕ is univalent.