Put beans in an Instant Pot and add water to one inch above the level of the beans. Lock on lid, select pressure cook high function for 10 minutes. Let pressure release naturally for 10 minutes, then release any additional pressure and drain beans.
Select saute function, add oil and heat until shimmering. Add onions and cook, stirring, until softened, 2 to 3 minutes. Add garlic and stir for 30 seconds. Add beef, 1 teaspoon salt and ¼ teaspoon pepper. Cook, stirring to break up the meat, 6 to 7 minutes, until meat is cooked through.
Season with spice packet and cayenne packet to taste. For thicker chili, stir in the masa packet. Mix well and cook for 30 seconds, stirring constantly. Add tomatoes, tomato paste, broth, beer (optional), Worcestershire, salt and jalapeño (optional). Cook and stir for 2 minutes, then return beans to the pot and stir well.
Pressure cook on high for 22 minutes. Let pressure release naturally for 15 minutes, then quick release any remaining steam, if necessary.
Serve it how you like it, with toppings such as sour cream, grated cheese, avocado, sliced jalapeño, chopped, cilantro, green onion and corn chips.