Booster Gold began as the world's first superhero with sponsorship in 1986. Originally the creation of various corporations, he was later retconned into a 25th-century thief who travels to the 20th century to become rich and famous and live the good life.
Over time, Booster Gold was transformed from a shallow idiot into a major superhero who, it is prophesied, is destined to save the universe. Just how is never revealed, but everyone believes it now and although no one respects Booster, per se, they at least tolerate him. In 1987, DC Comics revamped their Justice League title and reformed the team, and Blue Beetle joined it. Booster became head of the League in 1989.
Blue Beetle was a superhero who first appeared in Charlton's Captain Atom comics in 1966. He was Ted Kord, a 30-something inventor and owner of Kord Industries. A combination of Spider-man and Batman, he was neither and both. DC Comics acquired Charlton in 1986, and Blue Beetle was integrated into the DC Comics universe. Blue Beetle and Booster Gold became best friends, and their wise-cracking, ill-timed humor, and fratboy-style bromance because the stuff of legend.
Sadly, in Countdown to Infinite Crisis (March 2005), Blue Beetle is ignominiously killed with a bullet to the head. Unlike nearly every other superhero, he stayed dead and remains so to this day. (DC Comics didn't want to lose the character, and in Forever Evil #1 [November 2013] it rebooted its Blue Beetle character. Ted Kord is now a 22-year-old college student who sees his father, Thomas Kord, die accidentally when the Crime Syndicate attacks Metropolis. This will allow DC Comics to use the "Ted Kord/Blue Beetle" character, but it won't be the same guy fans loved so much.)