The World's First Banner Ad
An anonymous reader submitted a link to what they claim is the the internet's first banner ad. It comes from 1994 HotWired, paid for by AT&T. It's ugly, but no animation, no popups. It makes me a little nostalgic.
Google honed the concept of relevance in advertizing with unobtrusive text ads.
Secret sauce: relevance
Result: Profits and a market cap of $130B
Compare this with the fate of the company that paid for that first banner ad...