Spray the inside of the slow cooker (or Instant Pot) with olive oil. Add in the beef, carrots, onion, all the spices, seasonings, liquids, and bay leaves. Give everything one good stir to combine.

Arrange the potatoes on top of the stew in a single layer and press down a bit into the stew. Shake a bit of salt over the top of the potatoes.

In a slow cooker, cook on low for 8–10 hours, until beef is very tender and potatoes are soft. To cook in an Instant Pot: 45 minutes on high pressure, then allow natural release.

Remove the potatoes and mash well with additional sauce from the stew, if needed. Remove bay leaves from the stew.

Serve the stew with a generous scoop of mashed potatoes.