What command do I use to initialize localhost API?
What do you mean?
I want to launch the localhost application but by running make:
make: *** No targets specified and no makefile found. Stop.
So lib-jitsi-meet is a library and there is no make file, checkout its readme.
There is a webpack-dev server for jitsi-meet to experiment with UI and the app. The repo is https://github.com/jitsi/jitsi-meet and you need to execute
npm install make dev
to run it.