Jon Jones would probably be thrown in jail for manslaughter.
Machida would have to be buried.
I would probably cry and then off myself to join him.
The UFC would probably face some serious criticism.
FOX would probably drop it, it'd probably be banned in numerous states and it'd probably be in serious jeopardy of dying, it just depends on how well they could argue the fact Machida had the option to tap.
The fall out wouldn't be good though, that's the only thing for sure.