Heat a large Dutch oven or pot over medium heat, add the olive oil then add the bacon or pancetta and sauté, stirring occasionally, until it is browned and crisp, about 5 minutes. Using a slotted spoon, transfer the bacon to a plate, leaving the remaining fat in the pot. Season the beef with salt and pepper, turn the heat to medium-high, and cook the meat, turning so that it browns on all sides, about 5 minutes in all. You will likely need to do this in two batches to avoid crowding the beef in the pan, which keeps it from browning nicely (don’t worry about a pink spot here or there). Using the same slotted spoon, transfer it to the plate with the bacon.
If there is more than 1 tablespoon of fat left in the pan, pour off the extra. Reduce the heat to medium and add the onion, carrots, celery, and if you are using dried thyme, add it s well. Cook, stirring often, until the vegetables soften, about 3 minutes. Add the garlic and stir for one more minute. Add the wine to the pot and stir to scrape up the little browned bits stuck to the bottom of the pot. Add the broth, and then return the beef and bacon to the pot, making sure to include any juices that have accumulated on the plate. Bring to a simmer, then lower the heat to medium-low and cover.
Now you get to go about your business for about 2 hours, peeking occasionally to enjoy the aromas and see if you need to add any more broth or water if it looks like it’s getting too thick or dry. Add the fresh thyme, if using, just as the meat becomes tender to your liking. It may take another 30 or more minutes to become super tender; it depends on the meat.
You can, of course, serve it right away. But, like all stews, it is better tucked in the fridge and then reheated the next day or several days later. Sprinkle parsley on top if you wish.
Notes
Serves 4 (but doubles or triples easily; just use a bigger pot).