We will discuss versions of the Frobenius homomorphism for a ring spectrum R: the Tate- valued Frobenius and the Frobenius on topological Hochschild homology. Similar to ordinary algebra, these morphism play an impor- tant role in higher algebra and are related to various concepts in stable homotopy theory and algebraic K-theory. We discuss the notion of perfectness, which is to say that these morphisms are equivalences, and relate this notion to the Segal conjecture, the red-shift conjecture new K-Theory computations and the classification of spaces by stable data.