I know you're impatient and you can't wait to get the ball rolling on your ideas. Believe me, I've been in your shoes. And I thought the grass was greener on the other side too. Having tread the grass on both sides, here's what I've learned: hands-on smarts and school smarts are both indispensable for whatever you do in the future, whether it's starting a business or pursuing other dreams and ambitions. It sounds like you're on a great track for both right now, going to school and hacking on the side. This isn't a zero-sum game, you don't have to give up one for the other :) You may have to do a fair amount of exploring and perhaps change schools or majors to find something that's right for you, but certainly don't drop out and give up on a potentially great college education because you feel what you're learning isn't paying off right now.

This topic hits home so this may end up a long post -- you don't have to read it by any means :) Instead go read Steve Jobs' Stanford commencement speech, it's much more eloquent and compelling than anything I have to say, and he tells a great story about how hard he tried to stay in college though he could not afford the tuition.

I thought I'd share my experience in hopes it would help give some perspective. First, I would never advise anyone to entirely drop out of school, but I totally get how you're feeling because I took two years away from college to explore and pursue a business idea. I grew up in Silicon Valley (or more accurately, I grew up with Silicon Valley) in an environment where your peers expected you to stay on a straight, almost preordained path to an acclaimed university and then a big tech- or science-related company. And should you stray from that path, it had better be to start a tech company with immediately obviously benefits that everyone understood and praised, or else you'd better prepare to be scorned. Even in SV, the word "startup" doesn't always connote glamor, most often people's views of success and fearless entrepreneurship are in hindsight.

I was tired of the social pressure and looking for different problems to tackle so I left school temporarily and went as far away from SV as possible -- I went all the way to a mountain village in China to oversee a teeny-tiny clothing factory -- not the type of "startup" my SV peers would have been proud of. But I always knew I'd come home to SV and I was determined to finish my degree. I took distance learning classes online so I could earn credits for transferring into a good business program. "Distance learning" from a mountainous village in China in meant hooking up a very slow, very unstable dial-up connection (it was a miracle they even had a modem and Internet service at all) at work and doing some random micro-Econ coursework while dozens of sewing machines whirled around me, and praying that the power wouldn't go out suddenly. Sometimes it meant taking final exams at 4am because of the time difference.

That experience was both vastly frustrating and great fun, but it would not have been complete if I hadn't gone back to college. I enjoyed being able to hack out my own curriculum, but those online classes would not have mattered if I didn't turn them into a real degree. I got the credits I needed and successfully transferred into the undergrad business program of my choice. After being away for two years, I had become used to being without many resources, and now there were tons of university programs and people who wanted to know all about what I've been doing and help me take those ideas further. The graduate school had entrepreneurship competition and I even got to pitch my ideas on reforming manufacturing processes in the fashion/clothing industry to some VCs. One thing's for sure-- I would've had a hard time coming by those opportunities to drive my ideas even further had I not gone back to finish my degree. I still had to take quite a few pointless classes but those didn't matter compared to everything else the university offered. Sometimes it's hard to tell what's useful and what isn't till further down the road.

In the case your college sucks, now's a good time to check out some SV schools since you're already coming out here for your FB internship. You don't have to quit school to explore your ideas.

Hope this bit of insight helps and good luck with everything!