I think this viewpoint is a bit sensationalist and naive, and very bad advice.  It's interesting advice for would-be entrepreneurs, but entrepreneurial success is extremely rare and requires a certain mindset and drive - as well as a hell of a lot of luck.  It's entirely geared toward developing problem-solving skills and while I agree that those skills are extremely valuable, they're also not employable on their own.  

The problem with today's universities is that their diversity has introduced an inherent lack of direction, which tends to lead to a lack of focus for students. You can take advantage of incredible opportunities in higher education, but you do have to be of the mindset that takes responsibility for your own education. In my estimation, the people who piddle away their time in university would be the same ones who would learn little to nothing from your self-guided education. At least when they exit university, they have a qualifying degree and hopefully some job experience to get their foot in the door somewhere.

Everyone cannot be the next Bill Gates.  The greater majority of people will be working within the system and must work within the system in order for the occasional Bill Gates to exist. When the 50% of people who follow your advice have to go out seeking a job to pay back their failed business debts and support a family, I hope they have something better than poker, travel experience, blogging and home-brewed skills to offer a a potential employer.