My apologies to you if I mistook your intention by your comments. I guess I have become maybe oversensitive of troll attacks experienced on my own project, VRENAR, though admittedly not so much in Medium.
I agree it would fall down, but straight back down, following the path of the tether. It’s angular velocity relative to the Earth would be zero, identical to that of the tether, all the way down, until it hits the ground.
That is unless there is a net rotation of the atmosphere relative to Earth, which I would doubt, as this would imply some kind of friction in space, which I would question.
As said in my own later response to the article, I think with appropriate management and design, the project is technically feasible. Many of the details for which questions might currently be asked would best be designed and arrived at “From the top down” during conduction of the project by the usual formal systems Engineering techniques.