3 tablespoons vegetable oil
1 jalapeno pepper, ribs and seeds removed, sliced thin
3 medium shallots, chopped
1/2 cup Thai basil leaves
1/2 cup cilantro leaves
1/3 cup roughly chopped peanuts
Lime wedges for serving
Place the beef in a medium sized bowl and add the marinade ingredients. Toss to combine and set aside.
In a small bowl, combine the sauce ingredients (fish sauce, rice vinegar, water, brown sugar, and chili paste) and set aside.
Heat 2 teaspoons of vegetable oil in a nonstick skillet or wok over high heat. Add a third of the beef and brown; transfer the beef to a bowl and repeat with remaining beef in 2 batches using 2 teaspoons of vegetable oil for each batch. Doing this in batches allows a better browning so it's best not to add all the beef at once.
After the beef is cooked, reduce the heat to medium, and add 2 more teaspoons of oil to the skillet. Add the garlic, shallots and jalapenos, cooking until softened, stirring frequently.
Add the sauce mixture to the skillet and increase the heat to medium high until the sauce thickens a bit. Add the beef and any juices back to the skillet and toss in the sauce.
Take off the heat and stir in the Thai basil leaves and cilantro. Add half of the chopped peanuts and toss.
Serve over rice with lime wedges on the side.