Dice the bacon and onion and set aside. Mince the garlic.

Season ribs generously with salt and pepper. Add oil to the pressure cooking pot and select SAUTE.

When oil is hot, brown the ribs in small batches; do not crowd. Remove to a plate.

Add bacon to pressure cooking pot and cook until brown and crisp.

Add onion to pressure cooking pot with bacon and sauté until tender, about 3 minutes.

Add garlic and cook one minute more.

Add the red wine and use a wooden spoon to scrape up any brown bits stuck on the bottom of the pot.

Add beef broth, tomato paste, and ribs to pressure cooking pot, cover and lock lid in place. Select HIGH PRESSURE and 40 minutes cook time (or until the meat is fall-off-the-bone tender). When it beeps, do a natural pressure release for 10 minutes and then release any remaining pressure.

With tongs, remove ribs to a platter and cover with foil to keep warm. Use a fat separator and a mesh strainer to separate the fat from the juices. Return juices to the cooking pot.

In a small bowl, combine arrowroot, or cornstarch and water. Add to juices in the cooking pot. Select SAUTE and bring to a boil, stirring constantly until juices thicken.

Turn Instant Pot off and add the ribs back. Stir to coat with the sauce. Put the lid back on the Instant Pot and let the ribs absorb some of the sauce for about 10 minutes, stirring occasionally if sauce is still bubbling.

Serve over mashed potatoes, rice, or noodles.