SAN JOSE, Calif. (AP) — The fraud conviction of former Theranos CEO Elizabeth Holmes could do more than just send a once-celebrated ex-billionaire to prison. In theory, it could also deliver a sobering message to a Silicon Valley culture that often gets lost in its own hubris and swagger.

Will it? Don't hold your breath.

For that change to happen, entrepreneurs would have to dial down their own hype, which could mean losing potential investors to louder startups with fewer qualms. Meanwhile, venture capitalists and other startup investors — always on the lookout for the next big windfall — wou...