Season the cut beef chuck with salt and pepper.

In a large pot or Dutch oven over medium heat add the bacon and cook for about 3 minutes until the fat starts to render out and the bacon is just cooked through. Remove the bacon and set aside.

Add the oil to the bacon fat and increase the heat to medium high. In batches, add the beef to the pot, browning each piece on all sides, about 8 minutes per batch. Remove to a plate.

Once all the beef is browned and removed, add the onions and saute for about 3 minutes stirring occasionally. Add the garlic and cook for about 1 minute then stir in the flour and cook for an additional minute. Add the Guinness and stir, being sure to scrape the bottom of the pot to remove all the browned bits.

Add the carrots, potatoes, tomato paste, and beef broth and stir to combine. Return the cooked beef and bacon and stir again. Add the dried thyme and the bay leaf and mix again.

Cover and simmer on medium low for about 70-90 minutes, stirring occasionally. The beef should be cooked through and tender and potatoes soft.

Remove the bay leaf and add the peas, stirring to combine. The stew should be slightly thicker than a normal soup yet not thick like a gravy. Season with salt and pepper as desired and serve while hot.