Heat the olive oil in a large pot over medium heat. Add the ground beef and cook until browned, breaking it up with a spoon as it cooks.
Add the diced onion and minced garlic to the pot. Cook for 3 minutes until the onion softens.
Stir in the sliced carrots and cubed potatoes. Cook for another 2 minutes to combine.
Add the tomato paste, Worcestershire sauce, and dried thyme. Stir everything together for 1 minute.
Pour in the beef broth. Season with salt and pepper. Bring the mixture to a boil, then reduce to a simmer.
Cover the pot and cook for 25 minutes until the potatoes and carrots are tender. Stir once halfway through.