I would disagree with this, not because it isn't very good advice in general, but because its not good advice for entrepreneurs. The fact is that other people with motivation and drive to start something are quite rare to find in non top-tier schools, and you not only want people who think like an entrepreneur, but you also want them to be able to carry part of the load of the initial work (for web-based applications, code). Don't apply to the top tier schools because its something that everyone else is doing - do it because you'll find the best people there, and anything less is giving yourself a handicap that just isn't worth it. If you're scared about not making it into the top tier, well just remember, wanting to be an entrpreneur already puts you above many, many people.
One thing I do agree on is that starting something requires more than just coding skills - your ability to socialize, to motivate other people, and to get along with others is critically important. However, I would recommend teaching yourself how to socialize and getting academic schooling on code rather than the other way around.
If you're choosing your college based on where you can build a startup, you should look at 3 things:
1) Smart, motivated people. I would say Stanford, Harvard, MIT have taken most of them. Startups are rarely 1 person endeavors, and having a lot of candidates for a partner really helps.
2) Skills. This is why any top-tier university is good, because the skill-sets there are abundant. Plenty of smart people are looking for the next frontier, and you can give it to them.
3) Community. Most people don't get serious about entrepreneurship until they meet an entrepreneur. Make sure you have some sort of VC connection in your school, or a business program in entrepreneurship and a lively entrepreneur community. Also take entrepreneurial classes if you can, and try to connect with the community as fast as possible.
I go to CMU (Carnegie Mellon), and while it has, to some extent, all of the 3 points above, I do sometimes regret not going somewhere better. The difference in the caliber of people and the quantity and quality of the entrepreneurs here is quite apparent. CMU has a lot of old VCs that don't really know the web, and the entrepreneur community here is mostly older people doing older stuff (but still fascinating startups). One thing I'm very satisfied with is the professors here teaching entrepreneurship, as they have their own companies and provide a LOT of advice and motivation (they just are limited in how much help they can give if you're doing a web startup). I would say its a tier or 2 below the top three.
There seems to be a good correlation between the VC money in a certain area and how startup-friendly the colleges nearby are. Its best if you just follow that.
also - business vs CS - do CS.
The business school here at CMU produces the worst slackers-that-look-good-in-suits that I've ever seen. It does wonders to your presentation skills but kills your ability to do any serious work whatsoever.