College is also a great place to do programming or business projects in your free time, and to find other people to do them with. You may never have as easy a time meeting new people or spending time on personal projects as you do right now. It might cut into your partying and fraternity activities, but dropping out to join the workforce would do that too.
Opportunities will be hard to find at first, and you have to expect some amount of rejection. Keep in mind that your coursework will become more self-directed and interesting with each new year of school. Some opportunities that are closed to you now will be open later if you make sure you're aware and ready for them.
As long as you're not planning to go to grad school, and not in danger of failing, ignore your grades and instead optimize your learning. For the first time in your life, GPA might not matter ever again. Grades can be useful feedback for you, but remember that in ten years no one will care if you got a C- in freshman chemistry. (Some job applications do ask for your GPA, but in the startup world this is rare.) Regardless of how it affects your grades, spend more time on the lectures/homework/reading/activities that actually teach you things and less on busywork or stuff you already know. It's your responsibility to decide whether it's better to skip lecture and learn the material on your own.