Trim the woody ends from the asparagus spears. Cut the asparagus into 1-inch pieces, separating the tips from the stalks. Finely chop the shallots, mince the garlic, and peel and dice the potato into small cubes.

Heat the olive oil in a large pot or Dutch oven over medium heat. Add the chopped shallots and cook for 3-4 minutes until softened and translucent, stirring occasionally. Add the minced garlic and cook for another minute until fragrant, being careful not to burn it.

Add the asparagus pieces (both tips and stalks) and diced potato to the pot. Pour in the vegetable broth. Bring the mixture to a boil, then reduce the heat to a simmer, cover, and cook for 15-20 minutes, or until the asparagus and potato are very tender.

Remove the pot from the heat. Using an immersion blender, carefully blend the soup directly in the pot until completely smooth. If you don't have an immersion blender, transfer the soup in batches to a regular blender and blend until smooth. (Be cautious when blending hot liquids, only fill the blender halfway and vent the lid). For an extra silky soup, you can pass it through a fine-mesh sieve at this point, pressing on the solids.

Return the pot to low heat (if removed). Stir in the heavy cream (or alternative), fresh lemon juice, salt, and black pepper. Heat gently for 2-3 minutes, just until warmed through, but do not boil after adding the cream. Taste and adjust seasoning as needed.

Ladle the hot soup into bowls. Garnish with chopped fresh chives, a pinch of red pepper flakes, and a drizzle of extra virgin olive oil, if desired. Serve immediately.