An orbital elevator would not only be a huge advancement and cost saver for the space industry, allowing transfer of materials to Earth orbit without expensive, debris creating expendable rockets, but would also serve as a job creator for construction, aerospace, and engineering. Yes, the cost for constructing and launching an orbital elevator is high, but the rewards and possibilities dwarf the cost by comparison.
Here's how it works:
1. Build the orbital platform.
2. Prepare the cable, in segments.
3. Launch the platform into orbit
4. Launch and build the cable in manageable segments.
5. Create a strong anchor and loading bay for the cable, and secure te tether at the anchor.
6. The centrifugal forces of the earth's rotation keep the platform in orbit, with no altitude decay.