Rinse 1 pound baby potatoes under running water, scrubbing with vegetable brush or dish towel to remove all surface dirt.
Place potatoes on cutting board and use sharp chef's knife to slice each potato into quarter-inch-thick rounds. Pat sliced potatoes dry with paper towels, then set cutting board aside.
Add 2 tablespoons neutral-tasting oil to large skillet and heat skillet over medium heat. Swirl and tilt pan occasionally to distribute oil across bottom of skillet and continue heating until oil is hot and shimmery.
When oil is ready, place sliced potatoes in skillet in single even layer, making sure not to stack or overlap potatoes. Work in batches as needed to avoid overcrowding skillet.
Sprinkle half of salt and half of pepper over potatoes, then cover skillet with lid and let potatoes cook undisturbed 5 to 8 minutes.
After 5 to 8 minutes, once potatoes begin to brown around edges, remove lid and flip potatoes over. Sprinkle remaining salt and pepper over potatoes.
Cover skillet with lid and cook potatoes 8 to 10 minutes more, until potatoes are browned and crispy outside and cooked through completely.
Remove lid and sprinkle 1 teaspoon fresh thyme leaves over potatoes. Cook potatoes 1 minute, then transfer to serving plates and serve immediately.