Melt the olive oil and butter in a pan over medium heat. Add the garlic powder and onion salt (or chopped onion and garlic).
Place the potatoes in pan. Using a potato masher or thick wooden spoon press down on the potato, flattening to approximately ½ an inch. Dust with salt and pepper.
Fry, covered, on medium heat until crispy and then flip potatoes to crisp the other side and add a pinch more salt and pepper.
Remove from pan and cover with grated cheese, bacon, and a dollop of sour cream.