Cut the corn off the cob. This is how I do it: Place a small ramekin in a large bowl. Place corn on the ramekin then cut the corn off. See video. Keep naked cobs.

Place 1 tsp butter in a large pot over medium high heat. Add bacon and cook until golden. Use a slotted spoon to remove onto a paper towel lined plate. Leave fat in pot.

Lower heat to medium high. Add 2 tbsp butter, once melted, add garlic and onion. Cook for 2 - 3 minutes until onion is translucent.

Add flour and mix it in. Cook, stirring, for 1 minute.

Add broth, milk, potatoes, thyme and bay leaf. Break naked cobs into 2 or 3 and add into the liquid. Put the lid on and simmer for 25 minutes (adjust heat so it's simmering energetically but not bubbling like crazy or super gently).

Remove lid, remove corn cobs. Add corn and cook for 5 minutes or until cooked to your taste.

Stir through cream and 3/4 of the bacon and shallots. Adjust salt and pepper to taste. Ladle into bowls and garnish with remaining bacon and shallots.