Cook the bacon in a skillet over medium heat, stirring occasionally, until brown and crispy, about 10 minutes. Using a slotted spoon, remove about half the bacon to a plate. Add the collard greens to the skillet and cook, tossing occasionally, until they start to get tender, about 5 minutes.
Mix together the apple cider vinegar, sugar and hot sauce. Pour over the collard greens and cook, stirring, until the greens absorb some of the moisture, about 8 minutes. Crumble the reserved bacon over the top and serve hot.