It really depends on your field and the type of employer you want to work for. Some fields and types of employers can be difficult to work for without a degree. Also there is a question of how much you personally are getting out of school. Some people are much better workers than students.
http://thielfoundation.org/index.php?option=com_content&view=article&id=15&Itemid=19
Thoughts?
A lot of Thiel's beliefs are in line with those of a significant portion of the LessWrong community, so I trust his judgment more than I trust that of most.