Preheat oven to 325 degrees. Heat oil over medium-high heat in a medium Dutch oven.
Sprinkle beef with salt, pepper, and garlic powder. Brown the beef for about 3 minutes per side. Remove beef from Dutch oven and set aside.
Add onion to the grease in the Dutch oven and cook 1 minute.
Add tomato paste and thyme and stir into onions. Add beef broth, Worcestershire sauce, and hot sauce. Reurn beef to Dutch oven and spoon sauce over it.
Cover Dutch oven and bake for 2 1/2 to 3 hours or until beef easily shreds. Remove beef from Dutch oven and place on a cutting board. Let cool 10 minutes.
Remove all liquid from Dutch oven. Measure out 1 1/2 cups of the liquid and return to Dutch oven. (the rest of the liquid can be tossed away.) Bring to a boil over medium-high heat and cook until reduced by half.
Shred beef and check for seasoning. Add more salt and pepper if needed. Return beef to Dutch oven once the liquid has reduced by half. Turn heat off and stir beef into the liquid.
This recipe originally appeared on spicysouthernkitchen.com