Bring a large pot of salted water to a boil.
Add spaghetti and cook according to package instructions until al dente.
While the pasta cooks, heat olive oil in a pan over medium heat.
Add diced bacon to the pan and cook until crispy, about 5-7 minutes.
Add minced garlic and red pepper flakes, sauté for 1 minute.
Reduce heat and pour in the heavy cream, stirring well.
Simmer for 2-3 minutes until the sauce thickens slightly.
Add the cooked spaghetti to the sauce, tossing to coat evenly.
Stir in grated Parmesan cheese and season with salt and pepper.
Serve hot, garnished with fresh parsley.