Preheat your oven to 325°F (160°C). Position rack in lower third of oven.

Prepare the Beef: Pat beef chunks COMPLETELY dry with paper towels. This is critical for proper browning. Season generously with kosher salt and freshly ground black pepper.

Cook the Bacon: Add diced bacon to cold Dutch oven. Turn heat to medium and cook, stirring occasionally, until crisp and fat has rendered, about 8-10 minutes. Remove bacon with slotted spoon to a plate lined with paper towels, leaving fat in pot.

Sear the Beef: Increase heat to medium-high until fat is shimmering. Working in batches (don't crowd!), add beef cubes in a single layer with space between pieces. Sear until deeply browned on all sides, about 3-4 minutes per side. Transfer seared beef to plate with bacon. Repeat with remaining beef, adding vegetable oil if pan becomes dry.

Build the Flavor Base: Reduce heat to medium. Add chopped onions and carrots to the pot. Cook until onions are translucent, about 5 minutes, scraping up some of the fond as vegetables release moisture. Add garlic and cook 30 seconds until fragrant. Stir in tomato paste and cook 2 minutes until darkened. Sprinkle flour over vegetables and cook, stirring constantly, for 2 minutes.

Deglaze & Build the Stew: Slowly add wine while scraping bottom of pot AGGRESSIVELY with wooden spoon to release all browned bits. Bring to a simmer for 2 minutes. Add beef stock, soy sauce (if using), bouquet garni, seared beef, and cooked bacon (with any accumulated juices). Liquid should just barely cover meat; add more stock if needed. Bring to a simmer, cover tightly, and transfer to oven.

Braise: Cook in oven for 3-4 hours (possibly longer), until beef is completely fork-tender. Check after 3 hours by testing a piece with a fork - it should yield easily with no resistance.

Prepare Garnishes (during final hour of braising):

For Mushrooms: Heat 1 tablespoon oil and 1 tablespoon butter in large skillet over medium-high heat. Add mushrooms in single layer (work in batches if needed) and cook WITHOUT stirring for 2-3 minutes to develop browning. Stir and continue cooking until golden, about 5 minutes total. Season with salt and pepper. Transfer to bowl.

For Pearl Onions: In same skillet, heat remaining butter and oil over medium heat. Add pearl onions, sugar, and water. Cover and simmer 5 minutes. Uncover, increase heat to medium-high, and cook until liquid evaporates and onions are glazed, about 5 minutes. Transfer to bowl with mushrooms.

Finish the Stew: Remove Dutch oven from oven. Use slotted spoon to transfer beef to a bowl. Remove and discard bouquet garni. Skim excess fat from surface of sauce (a ladle works well for this). If sauce is too thin, simmer uncovered on stovetop until reduced to desired consistency. Taste and adjust seasoning with salt and pepper.

Combine & Serve: Return beef to pot along with prepared mushrooms and pearl onions. Gently stir to combine and heat through for 5 minutes on stovetop. Garnish with chopped fresh parsley. Serve hot with your choice of sides.