Preheat the oven to 325 degrees F.
In a medium dutch oven (or oven-safe pot), heat your olive oil over medium-high heat.
While the oil is heating, season all sides of your short ribs with the pepper and 1 tsp of the salt salt. Next, add your flour to a shallow bowl or large plate then coat each short rib in the flour, shaking off any excess.
In batches, as to not overcrowd the pan, brown the short ribs on all sides until golden brown, about 2 min per side. Transfer browned short ribs to plate and continue until all are browned. Set aside.
In the same pot, add the diced pancetta and cook, tossing occasionally, until it begins to crisp. About 2 minutes.
Next, add the onion, carrot, celery, garlic and 1 tsp of salt and a pinch of pepper. Saute until tender, about 3 minutes.
Add the cayenne, smoked paprika, dijon and tomato paste to the veggie mixture, stir to combine.
Next, add the red wine and beef broth and stir to combine. Nestle your short ribs back into the sauce and bring it to a simmer.
Bundle your rosemary and thyme with the kitchen twine then and add that and the bay leaf into the pot.
Place the top on your dutch oven then into your preheated oven until the short ribs are fall-apart tender, about 2 hours.