aanderse, whilst i dont disagree that starting your own company is a bad thing (its very ambitious, that is what i mean) i can dispute everything else you say
I currently work in the game industry thanks to my (kind of crappy) portfolio. A company saw that i made an effort i suppose, and asked for an interview. When they saw i COULD make games (and not uselessly clammer out technical terms) they hired me. You WILL learn over 900000 times more at an internship, then you ever will at college. Colleges give you papers, and i dont actually feel they are as necessary as they used to be.
That said, i do think its a good idea to get a degree. Not that its contradicting what i just said, i am living proof that you dont need a degree to get a job (ie : i was kicked out of university as well) so i do speak from experience. The thing with a degree is that you will stand out as committed, dedicated and if you do well, diligent. The point of getting a degree is far beyond the scope of LEARNING. anyone with the internet can know more than 1000 professors, and i bet if you put a student up against someone with the internet, the internet user will make a hell of a lot more games, much faster.
Starting the company IS a cool idea, sure its actually every game developers dream i think (dont quote me on that) but the point is, its not in your scope. Some things you might think about first are a) do you have any successful games behind you b) have you done anything meaningful in terms of making games (so that people can take your work as respectable and not some forums abuser) and c) that you can actually make games. Management, financial issues, scope, planning scheduling, clients, production, MAKING THE ACTUAL GAMES. Theres a million reasons you need a hell of a lot of experience, and NO real reason to start you own company.
I suggest making a game. Make a portfolioi, prototype a few good ideas and POLISH POLISH POLISH them. Find a company near you, or drive far/move closer to be able to apply, and ask a game development company if you can intern. Even for a month. If you can make games, and they can afford to, they will hire you. Its not rocket science, its a matter of skills needed / people available (imo).
If you do have the skills, you become an asset. If you have a degree, you stand above the crowd of non-degree holders except the ones who spent time making games and not studying.
I dont think the company idea is bad, i just dont think you understand the massive scope of it (and, keeping it alive). I speak from very close experience with all of the situations above, and if you want references ill link you to LONG articles abotu SUCCESSFUL companies that started and fell apart (and these are industry giants, not kids in high school). Those guys know what they are talking about, and as MANY of them have advised me, get experience first. get under someone who knows what they doing, and can boost you. Learn as much as you can, and start small.
You cant go from beginner to experienced veteran in a short time, but in the short time you will learn way more than you ever will by failing at trying to do the company thing.
Again, just an opinion but iv fought these battles, and i could not be happier working for a company by starting as an intern. Iv been there, and iv done it. I dont have a degree, and i dont have a TON of experience, but i did have a passion and want to learn. i hope it helps you to see where im coming from, rather than flame me for speaking out (that goes to everyone), and now i have got the job of my dreams over at
www.lumaarcade.com and iv never been happier.
I wouldnt even imagine of starting company that only makes games until i have a name to work with in the industry, and i am confidant that i can pull it off (and not fall apart like the other millions of game developers).
Then again, you can do what you feel is best for you, and if you think you can do it then do it. Do it well, do it hard and fight for survival. And maybe you make it through maybe you dont, but BOTH ways you learned a lot.
Hindsight is 20/20, but foresight is the master of success.