There was an error in my code. I left out a quotation mark. I corrected it above.
I made a jsFiddle for you. In the future, you should make your own jsFiddle. It will make it easier for us to help you.
I had to change the value in your span. Time inputs store values in a uniform fashion. If you use code to set the value, you have to conform to the uniform formatting. The DISPLAYED and ACCEPTED (from user input) values will differ. (And will differ depending on locale. (Most of the rest of the world think we are daft about AM/PM!)
Look at the error message in the console when you press the GET button. Chrome told me (with your original span content):
The specified value "8:00 pm" does not conform to the required format. The format is "HH:mm", "HH:mm:ss" or "HH:mm:ss.SSS" where HH is 00-23, mm is 00-59, ss is 00-59, and SSS is 000-999.
Chrome has better debugging tools. But it "works" in Firefox as well. Firefox isn't as helpful with error messages on the console. Firefox doesn't give a helpful message in the console when the format is not correct.
Always look at the Javascript console output! It would have told you that there was a syntax error in my suggested code. And use Chrome for debugging. It has the best debugging.