Open Instant Pot. Select Saute.
Once it heats up, add in the oil, garlic, and chili pepper.
Once browned, add in the ground beef.
When meat is partially cooked, add in soy sauce and oyster sauce. Stir then turn off Instant Pot.
Add in Thai basil.
Close Instant Pot. Select Manual, High Pressure Cooking, for 3 minutes
When done, QR (quick release - release pressure immediately by turning to vent) and serve. * Remove any excess oil before serving.