Set Instant Pot to Saute. Add 2 tablespoons of the oil. Pat beef dry and salt and pepper both sides generously. Add to Instant Pot (in batches if necessary) and saute until browned. Turn and saute the other side. Remove from Instant Pot and place on a large plate.

Add diced carrot, onion, & celery to the Instant Pot & cook, stirring and scraping up any browned bits from the bottom, until softened and lightly browned. Add the garlic and cook an additional minute, stirring. Remove vegetables to a bowl, to be added back in after the broth has finished cooking.

Add remaining 1 tablespoon oil to Instant Pot and toss in the vegetable parings and trimmings. Stir until slightly browned (or until the bottom becomes dark). Add in the wine/water and scrape the fond off the bottom of the pan (use a wooden or plastic spatula) and cook until the wine simmers and the alcohol burns off, about three or four more minutes.

Add stock, thyme, bay leaf, and reserved beef along with any accumulated juices. Close and seal the Instant Pot, set to High Pressure for 35 minutes. When finished, release pressure with the quick-release valve.

Remove the beef and set aside until cool enough to handle. Remove or strain the vegetable trimmings and parings and discard. Set the Instant Pot to Saute. Add the reserved, diced and browned vegetables back into the pot, and when pot comes to a boil, add in the one cup of rinsed Instant Barley. Cook for 10 to 12 minutes until Barley is tender.

Meanwhile, discard the beef bones and cut meat into bite-size chunks. Return to the Instant Pot. When barley is tender, taste and adjust seasonings, adding salt and pepper to taste.