[gaelow]

If you are an employee, a degree is useful. Employers care about portfolios and past working experiences much more than they do about grades, but a CS diploma is what gets your foot in the door for an interview at a decent firm or being considered for a promotion, at least in your first years.

If you are the boss it's a little bit different: It's all about the product, knowing how to surround yourself with the right people, being motivated, making connections, your conviction and ability to sell and speak in public and your past experiences running or participating in other companies' big decisions.