Dave Sifry, the founder and CEO of Technorati, is immediately stepping down from the role of CEO as the blog search pioneer continues to burn cash and fails to find a working business model. CFO Teresa Malo, VP of engineering Dorion Carroll and VP of marketing Derek Gordon will govern by committee until they find a new CEO. The company's search for an outside leader, which began last spring, has failed to find any takers. Eight other Technorati employees were also fired "to adjust our expense structure to be more appropriately aligned with our priorities moving forward." In other words, they're running out of cash, despite several small rounds of funding meant to keep them afloat. Technorati pioneered and had an early lead in blog search, an area where Google should have excelled. Since then, Google's Blog Search has improved while Technorati's has gotten worse. And as the lines between mainstream journalism and the blogosphere continue to blur, dedicated blog search has increasingly become irrelevant — a fact that's surely not lost on any CEO candidates Technorati might find.