Thom spectra, higher $THH$ and tensors in $\infty$-categories

Abstract: Let $f:G\to \mathrm{Pic}(R)$ be a map of $E_\infty$-groups, where $\mathrm{Pic}(R)$ denotes the Picard space of an $E_\infty$-ring spectrum $R$. We determine the tensor $X\otimes_R Mf$ of the Thom $E_\infty$-$R$-algebra $Mf$ with a space $X$; when $X$ is the circle, the tensor with $X$ is topological Hochschild homology over $R$. We use the theory of localizations of $\infty$-categories as a technical tool: we contribute to this theory an $\infty$-categorical analogue of Day's reflection theorem about closed symmetric monoidal structures on localizations, and we prove that for a smashing localization $L$ of the $\infty$-category of presentable $\infty$-categories, the free $L$-local presentable $\infty$-category on a small simplicial set $K$ is given by presheaves on $K$ valued on the $L$-localization of the $\infty$-category of spaces. If $X$ is a pointed space, a map $g: A\to B$ of $E_\infty$-ring spectra satisfies $X$-base change if $X\otimes B$ is the pushout of $A\to X\otimes A$ along $g$. Building on a result of Mathew, we prove that if $g$ is \'etale then it satisfies $X$-base change provided $X$ is connected. We also prove that $g$ satisfies $X$-base change provided the multiplication map of $B$ is an equivalence. Finally, we prove that, under some hypotheses, the Thom isomorphism of Mahowald cannot be an instance of $S^0$-base change.