The Space Elevator will reduce the cost of getting from earth to space. It will also allow us to take very large payloads into space very easily, very safely. Because of that, we can build cities on the moon. We can build space stations. We can build large solar arrays in space to collect energy from the sun and beam it down to earth.
How would space elevator affect the average person?
Through for example much faster telecommunication rates — you can have any kind of data rates you want, and videophones will be as common as a cell phone. And the solar power energy we’ll collect can relieve our dependence on oil. That in itself will change a lot of things it will reduce pollution and it will change world politics, hopefully even stopping some of the conflicts.