Method
Prep ingredients. Cut beef into even 4cm cubes. Pat completely dry with paper towels (wet meat won't brown). Season generously with salt and pepper. Toss in 2 tbsp flour. Dice vegetables. Measure liquids. Have everything ready.
Brown the beef in batches. Heat a large Dutch oven over medium-high heat. Add a drizzle of oil. Brown beef in 3 batches — don't crowd the pan. Each batch needs 3–4 minutes per side to develop a deep crust. Transfer to a plate. This step is non-negotiable: proper browning = flavour.
Render bacon. In the same pot, cook bacon lardons until crisp. Remove with a slotted spoon, leaving fat in the pot.
Build the soffritto. Add carrots and onion to the bacon fat. Cook for 5 minutes until softened. Add garlic and tomato paste. Cook 2 minutes, stirring constantly.
Deglaze and assemble. Pour in red wine. Scrape the bottom of the pot to release all browned bits (this is where flavour lives). Bring to a simmer. Return beef and bacon to pot. Add stock, bay leaves, and thyme. Liquid should just cover the meat.
Braise low and slow. Cover pot. Transfer to a 160°C oven. Braise for 2.5 hours until beef is fork-tender. Check every hour — if liquid is reducing too fast, add a splash of stock.
Cook mushrooms and pearl onions. In the last 30 minutes of braising, sauté mushrooms and pearl onions in butter until golden. Add to the pot for the final 30 minutes.
Finish and serve. Remove from oven. Taste and adjust salt. The sauce should be rich, glossy, and coat the back of a spoon. If too thin, simmer uncovered on the stovetop for 10 minutes. Serve in wide bowls with crusty bread or over mashed potatoes.