Turn the Instant Pot on HIGH Saute. Wait until it says "HOT."
Combine flour, salt, pepper, and garlic powder.
Season the roast liberally on all sides with the flour mixture.
Add 2-3 tablespoons olive oil to the pot. Sear meat for about 5 minutes per side, until browned on all sides. Set aside on a plate.
Add another tablespoon of oil to the pan and add the onion. Saute for a couple minutes, until slightly translucent.
Add soy sauce and beef broth to deglaze the pot. Scrape all the cooked bits off the bottom of the pot to prevent a burn notice. Add the bay leaf.
Add the roast to the Instant Pot and scoop some of the onions on top of the meat.
Turn off Saute mode, lock the lid, turn the knob to SEALING, and cook on the MEAT/STEW or MANUAL setting for 75 minutes. Allow a full natural pressure release until the pin drops, about 30 minutes.
Remove the meat from the Instant Pot, slice, and enjoy!