Pat the beef stew meat dry with paper towels and season evenly with sea salt and black pepper.
Heat the olive oil in a heavy-bottomed pot or Dutch oven over medium-high heat and sear the beef until deeply browned on all sides.
Remove the beef from the pot and set aside, then add the sliced mushrooms, diced carrots, and chopped onions to the remaining fat.
Sauté the vegetables for 5-7 minutes until they begin to soften and the mushrooms release their moisture.
Stir in the minced garlic and tomato paste, cooking for 1 minute until fragrant and the paste turns a dark brick red.
Pour in the red wine to deglaze the pot, using a wooden spoon to scrape up all the flavorful browned bits from the bottom.
Return the beef to the pot along with the beef broth, fresh thyme sprig, and bay leaf.
Bring to a gentle boil, then reduce heat to low, cover, and simmer for 60 to 90 minutes until the beef is fork-tender.
Discard the thyme sprig and bay leaf before ladling the stew into bowls to serve.