Step 1

Cook bacon in olive oil in a large skillet over medium-low, stirring occasionally, until rendered and crisp, about 7 minutes. Using a slotted spoon, transfer bacon to a plate lined with paper towels. Transfer 2 tablespoons rendered bacon drippings to a small bowl; discard remaining drippings.

Step 2

Whisk together mayonnaise, shallot, and hot sauce in a medium bowl. Slowly drizzle in reserved bacon drippings, whisking constantly, until blended. Combine mayonnaise mixture and cheese in a food processor, and pulse until cheese is very finely chopped, about 4 times. Scrape into a serving bowl, and season with salt. Sprinkle with bacon. Serve with crudités, toasted bread, or crackers.