"For me, you are not worth the time or money."
That's what I read when I see statements like this. Why? Well, as an employer, I'd think you were inexperienced and undisciplined. That said, starting your own business will certainly teach you discipline and give you experience, but it will also show a potential employer that you don't need them and that you're likely to leave.
Going to college teaches you how to interact with others and deal with their idiosyncrasies (and maybe discover some of your own). You get socially acclimated, and have the chance to meet some crazy intelligent people. Can you do that on your own? Sure, but the density at college is much higher, thus the probability of a meaningful encounter is also much higher. See dating, as well.