Heat a large pot or Dutch oven over medium-high heat. Season beef cubes generously with salt and pepper.
Add a drizzle of olive oil to the pot and sear the beef in batches until browned on all sides. Remove and set aside.
In the same pot, add onion and garlic. Sauté until softened, about 3 minutes.
Stir in tomato paste and cook for 1–2 minutes to deepen the flavor.
Deglaze with red wine, scraping up browned bits from the bottom of the pot. Let it simmer for 2–3 minutes.
Return beef to the pot, then add broth, carrots, potatoes, thyme, and bay leaf. Stir to combine.
Bring to a boil, then reduce to a gentle simmer. Cover and cook for 1–1.5 hours, until beef is tender and vegetables are cooked through.
Remove bay leaf, taste, and adjust seasoning with salt and pepper.
Serve hot in bread bowls or cauldron-shaped dishes for a spooky presentation.