Heat a large stockpot or Dutch oven over medium high heat. Add bacon and cook until brown and crispy, about 6-8 minutes. Transfer to a paper towel-lined plate, reserving excess fat in the Dutch oven.
Season steak with 1 teaspoon salt and 1/2 teaspoon pepper.
Working in batches, add steak to the Dutch oven and cook, stirring occasionally, until evenly browned, about 6-8 minutes; set aside.
Reduce heat to medium. Add onion and carrots, and cook, stirring occasionally, until tender, about 3-4 minutes.
Stir in garlic until fragrant, about 1 minute.
Whisk in flour and tomato paste until lightly browned, about 1 minute.
Stir in wine, scraping any browned bits from the bottom of the Dutch oven.
Stir in beef stock, thyme and bay leaves. Return steak to the Dutch oven. Bring to a boil; reduce heat and simmer until flavors have blended and stew has thickened, about 30 minutes.
Remove thyme sprigs and bay leaves. Stir in mushroom onion mixture, bacon and parsley until warmed through, about 1-2 minutes; season with salt and pepper, to taste.
Serve immediately.
for the mushroom onion mixture
Melt butter in a large cast iron skillet over medium high heat. Add mushrooms and onions, and cook, stirring occasionally, until tender, about 5-6 minutes.
Stir in garlic and thyme until fragrant, about 1 minute; season with salt and pepper, to taste.