The nation watched with bated breath, but the measure didn't pass. However, I think this is the way the bill was crafted more than a general sentiment over smoking pot.
The legislation as written gave the power to set taxes to municipalities. In essence counties and even cities could have price wars to effectively price each other of what would likely be a very lucrative market.
If the legislation is tightened up and people educated about the initiatives and the true effect it would have on the state/local government budgets, the outcome could change in future elections.
Are you bummed that Prop19 loses?