We present a scaling theory describing the collapse of a homopolymer chain in poor solvent. At time t after the beginning of the collapse, the original Gaussian chain of length N is streamlined to form N/g segments of length R(t), each containing g ∼ t monomers. These segments are statistical quantities representing cylinders of length R ∼ t 1/2 and diameter d ∼ t 1/4 , but structured out of stretched arrays of spherical globules. This prescription incorporates the capillary instability. We compare the time-dependent structure factor derived for our theory with that obtained from ultra-large-scale molecular dynamics simulation with explicit solvent. This is the first time such a detailed comparison of theoretical and simulation predictions of collapsing chain structure has been attempted. The favorable agreement between the theoretical and computed structure factors supports the picture of the coarse-graining process during polymer collapse. 64.60.Ak,64.60.Fr,61.25.Hq,83.10.Nn The collapse transition of a single polymer molecule is for several reasons an interesting physical problem. [1,2,3,4,5,6,7,8,9] Understanding the collapse transition is foremost a precursor to understanding protein folding, [10] and how other biomolecules react to changes in environment. Furthermore, a better physical picture of the collapse transition will enhance the ability of nanoscale micromanipulation techniques to provide a way to experimentally approach many such problems. [9,11] The earliest consistent theoretical picture of the collapse transition stems from de Gennes.[1] In this scenario, when the temperature is shifted by ∆T from θ conditions, a Gaussian coil starts to aggregate, resulting in a uniformly dense sausage-like shape. As time goes on, the minimization of interfacial area drives this sausagelike shape to thicken and shorten until, at the final stage, a globule is formed. More recent work has shown that such uniform sausage-like shapes are highly unstable in solvents due to the capillary instability, which selects for "pearl-necklace" structures over uniform sausages.[5] Attempts made to incorporate the capillary instability in the description of the collapse of a polymer chain, [12,13] however, have so far resulted in no universally accepted theoretical description, particularly in prediction of how the time for collapse scales with chain length. The purpose of this paper is to present a theory based on a new idea for the mechanism of the collapse transition, and to support this theory by comparing directly to results of large-scale molecular dynamics simulations.Consider a Gaussian coil representing a polymer in θ solvent. We may think of this coil as a Gaussian fractal, created by a heirarchical scheme, demonstrated in the right side of Fig. 1. We subject this system to an instantaneous drop in temperature, which quenches the system rapidly into poor solvent conditions. This effectively introduces monomer-monomer attraction. We assume this quench is so deep that the initial nucleation of the first globules of t...