People are commenting on this but failing to stake out a real point.
Is the point that just having been accepted to those schools is a strong signal? I would concede that it could be, sure.
But a lot of people drop out of Ivy league schools and simply flame out. Many would consider dropping out of those schools after a few semesters as failure. And many companies still require degrees; a few semesters at Harvard won't cut it.
I guess my point is that college dropouts are also successful at creating startups. Two have started the two most valuable companies in the world.
I'd argue getting accepted is almost the entire signal.
These people dropped out to chase extremely lucrative business opportunities - that they created as a student, likely aided by structural/networking support inside that institution - due to timing risk.
One could argue they not only got into a highly prestigious institution, but they quickly leapfrogged everyone there. That's the opposite of flaming out.