Preheat oven to 400 degrees and lay bacon on foil-lined baking sheet. Bake for 13-15 minutes, until it's starts to get crispy. Let cool on paper towel and chop into bite size pieces.
Cut your onion by hand or pulse in a food processor.
In a medium saucepan, heat two tablespoons of olive oil. Add shallot and onion to the pan and cook on medium heat until it starts to caramelize. Add the garlic and cook for one more minute.
Add the chili powder and paprika and stir until combined.
Increase heat to high and add the bourbon and maple syrup. Bring to a boil and stir for about 3 minutes.
Add the vinegar and brown sugar and continue to boil for 3 more minutes.
Add the bacon, reduce heat to low and simmer fro 30-45 minutes. The mixture will thicken and look like jam in the process.
Transfer to jars or a container and store in the refrigerator.