Step 1.  Preheat Instant Pot on Sauté setting until the display reads HOT.

Step 2.  Add the lardons to the pot and cook until crisp, 5 minutes.

Step 3.  Remove the bacon and put it on paper towels to drain.  Remove all but 1 tablespoon of the bacon grease in the pot.  Reserve the rest of the bacon grease.

Step 4.  Add the beef to the pot in three batches, making sure not to crowd the pan.  Using a spatula and tongs, brown the beef on all sides, 4-5 minutes.  If the pan gets too dry, add more bacon grease.  Remove beef to a large bowl.

Step 5.  Heat one tablespoon olive oil in the pot.  Add onions and cook until softened, 2 minutes.

Step 6.  Add mushrooms and cook until softened, 5 minutes.

Step 7.  Add garlic and cook for 1 minute more.

Step 8.  Remove vegetables from the pot and add to the bowl of beef.

Step 9.  Heat one teaspoon olive oil in the pan and add in Xanthan Gum.  Stir to dissolve.

Step 10.  Add wine to the pan and use a spatula to scrape up the browned bits.  Cook until wine thickens, 1 minute.

Step 11.  Add beef broth, tomato paste, thyme, and bay leaf to the pan and stir until thickened, 1-3 minutes more.

Step 12.  Add beef, vegetables, and bacon back into the pot.

Step 13.  Put the lid on the Instant Pot and pressure cook on the Meat/Stew setting for 30 minutes.  Use quick-release valve to release the steam.

Step 14.  Open the lid and remove the bay leaf.  Taste for saltiness and add salt and pepper as desired.