The banner ad is a monster that swallowed the web whole and created two decades of havoc

You might have heard: The banner ad celebrates its 20th birthday (AdAge)

But did you know: “The history of the banner ad is a cautionary tale for today’s hot start-ups. It is a story of what happens when you try to monetize an invention too quickly, before it has gained a wide enough foothold with an audience to create a sustainable, symbiotic business model,” writes Farhad Manjoo. “It also illustrates the snowballing dangers of new technology: Once an innovation becomes marginally accepted, its early success can quickly mushroom into dominance, even if pretty much everyone agrees that it is no good … The banner ad was born of necessity, in a rush, and not because anyone thought it was a particularly good idea.”

+ Banner ad alternatives: Media companies strike gold with sponsored content but when will the mine go dry? (AdAge)

+ Previously: “Hey, did you see that awesome banner ad yesterday?” said no one, ever (Re/code) and A Q&A with the creator of the banner ad: “My kids make fun of me for it” (Digiday)

+ Noted: Unable to find a local partner, the much praised Homicide Watch D.C. is shutting down (Nieman Lab); CBS to launch digital news channel (Re/code);Tribune Publishing’s first earnings report: “We have much work to do” (Poynter);Book publishing, real estate, and other recent acquisitions drive News Corp to revenue growth (Capital New York); New journalism org “The Conversation” hopes to bring “academic rigor” to news (WBUR’s Here & Now); Journalistic crowdfunding platform Beacon signs partnership deal with Newsweek (Gigaom);The Verge appoints a Silicon Valley editor (Poynter) and The New York Times names a “print editor” (Capital New York)