The elevator paradox involves the probability of an elevator being above or below a waiting passenger in a multi-floor building. When the elevator is equally likely to be on any floor, if there are more floors above the passenger, the likelihood of the elevator arriving from above increases. This leads to the conclusion that, on average, the elevator will take longer to arrive when the passenger is waiting on a lower floor compared to a higher one. The discussion highlights a preference for simpler explanations over complex ones, particularly criticizing Wikipedia's approach. Understanding the paradox relies on basic probability principles rather than complicated theories.