Marijuana seems to selectively inhibit short term memory formation in chronic users probably through an anti-cholinergic mechanism. However one paper found neuron death in the hippocampus in vitro due to direct exposure to THC. The hippocampus is a structure in the brain which is directly related to short term memory formation
The Journal of Neuroscience, July 15, 1998, 18(14):5322-5332
Hippocampal Neurotoxicity of 9-Tetrahydrocannabinol
Guy Chiu-Kai Chan, Thomas R. Hinds, Soren Impey, and Daniel R. Storm
Department of Pharmacology, University of Washington, Seattle, Washington 98195
AND
Short-term memory impairment in cannabis-dependent adolescents
R. H. Schwartz, P. J. Gruenewald, M. Klitzner and P. Fedio
Department of Pediatrics, Georgetown University School of Medicine, Washington, DC.