Author here...
I interpreted hiring as optimal stopping problem because:
(a) we as hiring managers have no idea who's out there that we can hire and train for our requirement, and
(b) traditional hiring pipelines have a retry limit of zero; once rejected, rejected forever, and the open-door retry policy makes it infinite retries (after a cooling off period).
So the idea is to process applications as fast as possible to reject negatives and false positives, at the possible expense of some false negatives. And then try to defeat the downsides with the open-door / infinite retry trick.
That is certainly not exact science. Besides, I'm not a stats / maths / operations research person though, so I do accept I could be wrong. For now, I am okay being wrong because I hope to never have to hire anybody as an indie software builder :D