As I recall it, an object at 200 miles altitude must be traveling at 19,000 MPH to stay in orbit.  At synchronous speed as the surface of the earth, it falls from space.  And they are going to build an elevator to it ???

At the current time, what is the tallest man-made structure on the earth ??  Oh, only 198 more miles to go ?  No big deal.   It may need a few guy-wire to stabilize it.