Actually, it looks like I misunderstood. "All April Fools' Day Jokes on the Web are Here (so they don't clutter HN)" was the top link when I opened HN today so I thought it was some official stance. It appears to just be another submission. My bad.
He is talking about the total creation time -- putting n distinct elements into the same hash bucket means traversing to the end n times for an overall o(n^2) time
Isn't it far more likely that the meeting was about jobs' health, and the least suspicious story to tell a business partner to avoid speculation would be to say it is a meeting about the next iPhone?