Place a large saucepan over medium-high heat with 2 turns of the pan of EVOO, about 2 tablespoons. Add the chopped hot dogs to the pan and cook until brown, about 3-4 minutes. Remove and reserve hot dogs.
Add the sirloin to the same pan and cook until golden brown and cooked through, 6-7 minutes. Add the onions, garlic and jalapeño to the pan, and cook until tender, 5-6 minutes.
Add the reserved hot dogs back to the pan along with tomato paste, chili powder and paprika, and cook until deep red and aromatic, about 30 seconds. Stir in the beef stock, adjust the seasoning with salt and pepper, and bring the liquid to a bubble. Reduce the heat to medium and simmer until thickened slightly, about 5 minutes.