Lyric discussion by thomasrj 

The song is in fact about an acid dealer, Owsley Stanley. The name comes from a famous headline in San Francisco (the hometown of the Dead and also the center of the acid movement in 1966), which read "LSD Millionaire Arrested." The boys included the song in their repertoire for a short time in 1966, and when bassist Phil Lesh began touring in 1998 with several Grateful Dead members under the name Phil Leash and Friends, he included Alice D Millionaire in several sets.

The lyrics are typical reflections of acid trips:

"Your yesterdays are all left behind, there's a brand new light in your mind..."

"Even bad scenes are for real..."

its about owsley stanley.... the original dancing bear :)

An error occured.