Please_Be_Gentle - 1:20 am on May 13, 2004 (gmt 0)
I thought that they originally touted text ads as a superior alternative to banners.
In an interview Page mentions that prior to the text ads they had many offers to run banners.
Page: “It was a big temptation to take the money.” and then said they "Noticed the click-thru rates on banners were low. “We had this big leap of faith and we said we’re going to sell text ads. The business people looked at us like we were crazy founders. Which we were of course. ". Targeted or not, banner-blindness is still an issue as most people automatically ignore them. So are Google going to be running banners or not, and if so is it not a substantial change in policy?