In a large saucepan, add the potatoes and enough salted water to cover. Bring to a simmer and cook for 20 minutes. Drain and cool. Quarter each piece lengthwise, then slice crosswise.
Meanwhile, in a large nonstick skillet, cook the bacon over medium heat until crisp, about 8 minutes. Transfer to paper towels to drain. Reserve the rendered bacon fat, leaving 1 tablespoon in the skillet. Add the onion to the skillet and cook, stirring, until softened, about 3 minutes. Add the cabbage and 1/2 cup water and cook, stirring occasionally, until crisp-tender, about 4 minutes. Transfer to a bowl and keep warm. Wipe out the skillet.
Return the reserved bacon fat to the skillet; add the olive oil and heat over medium heat. Add the potatoes, season with salt and pepper and cook, turning occasionally, until crisp and golden-brown, about 8 minutes. Stir in the cabbage mixture and cook until heated through.