But there's an interesting difference in framing or worldview between the two acronyms: My assumption of "time-cost optimization" assumed that such tasks as debugging were part of _producing_ a software artifact. Our implied goal (just like in the Rust talk's title) was to maximize _production_ of such artifacts at a reasonable level of quality. The back-loaded testing and bugfixing work might go on for a while (if you made that tradeoff), but it eventually ends in a "product" (or in project failure).
On the other hand, "total cost of ownership" emphasizes that our primary job isn't production but _ownership_ of software, which is open-ended and goes on forever. We have to think not only about "How long will it take to get it right?" but (mostly!) about "How costly will it be to maintain, year after year, even _after_ we get it right?"