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Heat the olive oil in a large Dutch oven over medium heat. When the oil is hot, add the onion and garlic and cook until they have started to soften, about 1 minute. Add the beef and sprinkle with a pinch of salt and pepper. Cook the beef, breaking it up with a spatula, until it is cooked through and browned, about 8 minutes. Add the tomato paste and taco seasoning, then stir to combine.
Stir in the black beans, corn, tomatoes with green chiles and vegetable stock. Add a few dashes of hot sauce, then stir well and bring to a simmer. Simmer to allow the flavors to come together and the liquid to slightly thicken, 10 to 15 minutes. Taste and adjust the seasoning as needed.
Serve in bowls, garnished with the Cheddar, sour cream, cilantro and more hot sauce to taste. Crumble over the corn chips.
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