Put the onions, carrots, and olive oil in the pot and press "sauté" and then the "+" button until it reads 10 minutes. Cook, stirring occasionally, until vegetables are slightly soft Add pepper to taste.
Add beef and press "sauté" again, stirring occasionally until beef is slightly browned.
Add the rest of the ingredients, including 3 cups of water. Stir to combine the tomato paste. Close the top, seal the vent, and press "soup."
Quick release, but be ready for a bit of spraying!