Warm the pot: Heat the oil in a large Dutch oven over medium heat. When it shimmers, add the onion, bell peppers, and jalapeño.
Cook 5–6 minutes until softened and lightly browned.
Add garlic and spices: Stir in garlic, chili powder, smoked paprika, cumin, oregano, and coriander. Cook 30–60 seconds until fragrant. This blooms the spices for better flavor.
Brown the meats: Add the sausage and ground beef.
Break them up with a spatula and cook 7–9 minutes until no pink remains. If there’s excess grease, spoon off a bit, but leave some for richness.
Build the base: Stir in tomato paste and cook 1–2 minutes to caramelize slightly. Add diced tomatoes, beef broth, vinegar or lime juice, and cocoa or coffee if using.
Season with salt and black pepper.
Simmer: Bring to a gentle simmer. Reduce heat to low, partially cover, and cook 20–25 minutes, stirring occasionally. The chili will thicken and the flavors will meld.
Taste and finish: Adjust salt, pepper, and heat.
If you like it thicker, simmer uncovered a few more minutes. Stir in chopped cilantro if desired.
Serve: Ladle into bowls and top with sour cream, cheddar, green onions, avocado, or extra jalapeño. Enjoy right away.