Place the potatoes in a large Dutch oven and cover with water. Add about 1 tablespoon of salt to the water. Bring to a boil uncovered. Then once boiling, turn the temperature down and cook until knife tender, which is about 15-20 minutes. Drain and add to your stand mixer, with the paddle attached and slowly mix until mostly creamy (looking more like mashed potatoes). If not, mash by hand with a potato masher.
Dice onion and red pepper. Cut corn off the cob.
In a large saucepan, heat some olive oil over a medium flame.
Add the onion and bell pepper. Sauté until softened. Add a bit of salt and cook for 2 additional minutes. Then add the mashed potatoes, corn, stock, milk, chili powder, salt and pepper. The soup will thicken while it cooks for an additional 23-30 minutes.
Taste and adjust seasonings to your taste. Prior to ladling into bowls, add some chopped cilantro – give a good stir. Ladle into bowl and enjoy.