Pat short ribs completely dry on all sides with paper towels. Using a sharp knife, carefully slice the meat from the bone, getting as close as possible to the bone to use the entire piece of meat. Sprinkle generously with salt and pepper on all sides.
Preheat oven to 350F and position a rack to the lower middle position.
Heat a large Dutch oven over medium-high heat and add a few tablespoons of vegetable oil. Pat the short ribs dry one more time.
Sear the short ribs for about 3 minutes. each side until a nice crust is achieved on all sides, and remove to a separate plate. Sear both sides of the bones as well. Work in batches to not overcrowd the pan until all short ribs have been seared. Remove some accumulated grease, leaving only 1-2 tablespoons in the pot.
Add chopped onions, carrots, celery, garlic, salt, and pepper to the same pot. Stir to combine, scraping the browned bits from the bottom of the pot with a wooden spoon. Cook for about 7 mins. over medium-low heat until vegetables are softened.
Add tomato paste and stir to combine; cook for 1 min. Next, add the red wine, bring the heat up to a boil, then reduce to a simmer to burn off the alcohol and reduce slightly for 3-4 mins. Add tied herbs and bay leaves.
Add the short rib bones back to the pot, setting them on top of the sauteed vegetables; next, add the short ribs back to the pot, placing them on top of the bones. Add beef stock to about halfway up the short ribs but not covering, bring to a boil, then turn off the heat. Add Worcestershire and soy sauce. Cover and place in the oven.
After 1-1/2 hours, flip the short ribs, cover, and continue cooking for another 1-1/2 hours until fork tender.
Remove them from the oven and place the short ribs in a dish with some of the cooking liquid. Cover with foil to keep warm. Strain the cooking liquid over a colander into a large bowl, discard the solids. Add the strained cooking liquid to a fat separator to discard the fat, and then add it back to the pot. Taste for seasoning, adding salt and pepper if needed.
Over medium-high heat, slowly drizzle in a corn starch slurry, a little bit at a time, whisking to thicken until desired sauce consistency is achieved. You may only use some of it depending on whether you want a thin or thicker sauce, so go slowly.
Meanwhile, in a separate skillet, heat over medium heat and add 1 Tbsp. extra virgin olive oil and cook the pancetta until golden and crispy, about 5 mins. Transfer to a paper towel-lined dish.
Place the short ribs back into the pot with the sauce, coating all sides in the sauce. Serve over some creamy mashed potatoes with more sauce over the top and the crispy pancetta and chopped chives.
