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In a large saute pan, fry bacon pieces over medium-high heat until crisp. Using a slotted spoon, transfer to the slow cooker, leaving the bacon drippings in the pan.
Next, saute the onions until softened, about 4 minutes. Season lightly with salt and pepper and the red pepper flakes as they cook. Stir in the garlic the last 30-60 seconds.
Whisk in the wine, broth, tomato paste, and soy sauce until smooth, scraping the brown bits off the bottom. Bring to a simmer and cook for about 2 minutes.
Carefully, pour the sauce into the slow cooker. Add the beef chunks, carrots, potatoes, mushrooms, 1 teaspoon salt, ½ teaspoon pepper and stir until combined. Add the thyme springs and bay leaf on top.
Cover and cook on low for 8-10 hours or high for 4-5 hours, or until beef and vegetables are very tender. Discard bay leaf and thyme stems.
In a small bowl, stir together the cornstarch and 2 tablespoons of water until smooth. Stir this slurry into the stew, replace the lid, and cook on high for about 15 minutes, until slightly thickened. (It will thicken more as it sits.)
Taste and adjust the seasoning. Garnish with fresh chopped parsley.