Put a large soup pot over medium heat and cut the bacon using kitchen scissors directly into the pot in bite size pieces. Cook 5 minutes. Remove half of the bacon (for garnishing the soup) and half of the bacon grease.

Add the diced onion, red pepper, and jalapeno with the bacon in the soup pot. Cook 5 minutes, stirring occasionally. 

Using a knife or corn scraper, cut the corn kernels off the cob. Add the corn and garlic to the pot along with kosher salt, pepper, Old Bay, and crushed red pepper flakes. Cook 5 minutes, stirring occasionally.

Add chicken broth, bring to a boil and add the potatoes, sugar, and fresh thyme bundle. Reduce heat to low and simmer 15 minutes, stirring occasionally. Remove thyme bundle.

Optional: Pulse a few times with an immersion blender for a creamier, thicker soup if desired.

Bring back to a boil and add the half and half and the shrimp. Reduce heat to low and simmer 10 more minutes. Taste for seasoning and add more kosher salt, pepper, Old Bay, or crushed red pepper flakes if needed.

Garnish with remaining bacon crumbles and fresh thyme if desired.