Salt and pepper raw short ribs on each side.
Turn Instant Pot to Saute setting and add a tablespoon of olive oil to the pot.
Place short ribs into the pot browning on all side, about 2 minutes per side.
Remove beef and set to the side.
Keep the Instant Pot set to Saute and add the carrots and onions to the pot. Cook vegetables until they begin to soften, about 5 minutes.
Add red wine and continue to cook until the liquid is reduced by half.
Wrap the herbs in a cheese cloth (optional) and add herbs to the pressure cooker on top of the carrots and onions.
Place beef short ribs back into the pot on top of the herbs.
Pour the beef broth into the pot. See note below about the amount.
Place lid on pressure cooker and lock it into place. Turn valve to sealing.
Cook on HIGH pressure for 1 hour 40 minutes.
When done cooking turn off the Instant Pot and let it do a natural release for 20 minutes.
When the time is up carefully turn the valve to venting and release the remaining pressure. Unlock the lid.
Remove the meat from the pot and pour the remaining liquid and vegetables through a fine mesh strainer into a bowl. Throw away the vegetables and herbs.
Serve the short ribs with or without the juices.