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Pfft comments on Bragging Thread, July 2014 - Less Wrong Discussion
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I understood the point to be the latter. Like, the usual rule of thumb is that 20% of the effort produces 80% of the value, and Drahflow is claiming that in this instance 0.0068% of the effort produced 80% of the value. (Assuming that Google Wave was developed by a hundred-person team).
Wave was certainly not developed by a hundred-person team. That article says that the "enabling technologies" behind Wave, including GWT and Google's XMPP fork, comprise a hundred-person team, which I could maybe believe between three or four of Google's key infrastructure projects at the time.
I think in Wave's case, as an innovative technology that had no clear predecessor, most of the two years is probably design, not development. Wave missed its mark, so none of that design is really re-usable.