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California entrepreneur who led minimum wage measure 'disappointed' by defeat, vows to fight for working class

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Proposition 32 , which would have raised the state's minimum wage from $16 to $18 per hour by 2026 , narrowly failed at the ballot box 50.8% to 49.2% .

The measure was pushed by Joe Sanberg , a progressive business leader, investor and co-founder of the socially-conscious financial firm Aspiration.

Business groups, including the California Chamber of Commerce , California Restaurant Association and California Grocers Association , opposed Prop 32 .