One of the more unique aspects of the current band is the inclusion of Mayer, who comes from a more established part of the music industry. Mayer told CNBC the collaboration with the Dead is motivating him creatively.
"It's a really great opportunity to step out of that sort of monological, soloist-artist thing. I wasn't getting bored of it but I was running out of new colors of paint to use sonically and idea-wise," Mayer said.
He added: "I actually get so much more out of it on a community level, group creative level, than I give up, which is very small because it's a real sort of nebulous democracy."
"It's more like collective anarchy than nebulous democracy." Hart interjected.
"I think mine is a little more P.C.," said Mayer.
Weir used the CNBC interview as an opportunity "to announce my candidacy for the highest office in the land," though he would not specify either the office or the land. He did provide one of the most detailed platforms of any existing candidate, saying, "A vote for Weir is a vote for nature in the streets" and promised to appoint Kreutzmann as "high priest."
Editor's note: In addition to his duties as CNBC's senior economics reporter, Steve Liesman is a guitarist who plays in a Grateful Dead cover band. He also hosted the pay-per-view broadcast of the band's three "Fare Thee Well" concerts in Chicago in July.