Pat the beef dry and cut into 1” cubes. Season with 1 teaspoon kosher salt and ¼ teaspoon freshly cracked black pepper, and set aside.
Heat 1 tablespoon vegetable oil over medium heat.
Add the bacon (it should sizzle). Cook for about 5 minutes, stirring occasionally. Remove with a slotted spoon and set aside.
Add beef cubes (make sure they sizzle when touching the oil) and brown on all sides, about 5 minutes. Make sure not to overcrowd the pan. Remove with a slotted spoon and set aside.
Add carrots and onion (or shallots) and stir for about 3 minutes. Season with ½ teaspoon kosher salt and ¼ teaspoon freshly cracked black pepper.
Add the cooked bacon and browned beef cubes, add 2 tablespoons flour, give it a really good stir, and cook for 2 minutes.
Add 2 cups red wine, 2 cups beef stock, 2 tablespoons tomato paste, thyme, bay leaves, and pearl onions. Bring to a boil. Stir and reduce to a simmer. Now, it’s time to put the lid on.
Stir every 15 minutes or so to make sure you’ve got a good simmer going and nothing sticks to the bottom of the pan.
After about 1-½ hours, it should be ready, or close to it. Now is a good time to taste. Don’t sweat it if it still seems a little strong on the wine taste. It’ll mellow. But make sure it doesn’t need any more kosher salt.
Now that the beef bourguignon is almost ready, we’re going to sauté the mushrooms. In a large frying pan over medium heat, melt 2 tablespoons butter until it slightly bubbles and foams.
Add minced garlic for just 30 seconds (you want them fragrant but not burned) and add the mushrooms.
Stir, add a little olive oil (or more butter) if you think the mushrooms are too dry. Season with a pinch of kosher salt and freshly cracked black pepper. Cook for about 5 minutes.
Add the sautéed mushroom-garlic-butter mixture to the Dutch oven and give it one more last stir.
Serve over your favorite side dish. In my case, that’s buttered extra-wide egg noodles.
Sprinkle with chopped parsley and pour everyone a nice glass of red wine.