What will Silicon Valley learn from Holmes' conviction?

SAN JOSE, Calif. (AP) — The fraud conviction of former Theranos CEO Elizabeth Holmes could offer Silicon Valley's culture of hubris and hype some valuable lessons.

Will anyone in the tech industry actually take this moment to heart? Don't count on it.

Holmes was found guilty on Monday of duping investors into believing that Theranos had developed a revolutionary medical device that could detect a multitude of diseases and conditions from a few drops of blood. She could face up to 20 years in prison for each charge, although legal experts say she is unlikely to receive the maximum sentence.

Federal prosecutors depicted Holmes as a charlatan obsessed with fame and fortune. In seven days on the witness stand, she cast herself as a visionary trailblazer in male-dominated Silicon Valley who was emotionally and sexually abused by her former lover and business partner, Sunny Balwani.

The trial also laid bare the pitfalls of one of the go-to moves of Silicon Valley entrepreneurs — conveying a boundless optimism regardless of whether it’s warranted, known as “fake it ‘til you make it.” That ethos helped hatch groundbreaking companies such as Google, Netflix, Facebook, and Apple — the latter co-founded by one of Holmes’ heroes, Steve Jobs.

But few expect her conviction to lower the wattage on the brash promises and bold exaggerations that have become a routine part of the tech industry’s innovation hustle.

Holmes' conviction “will send a message to CEOs that there are consequences in overstepping the bounds,” suggested Ellen Kreitzberg, a Santa Clara University law professor who attended the trial. On the other hand, she said, “investors are still going to want to make more money on a promising idea. They will always go in for the golden ring.”

Holmes remained seated and...