In a medium-sized Dutch oven, heat olive oil over medium heat until hot. Add the diced onion and garlic. Sauté until onions are soft and slightly translucent (~5-6 minutes), stirring occasionally.
Reduce heat to low and add the chili powder, cumin, salt, coriander, paprika, oregano, tomato paste, Worcestershire sauce and sugar. Stir and cook for 3-4 minutes, stirring occasionally.
Add chicken stock and ground beef. Use a whisk to break up ground beef into pea-sized (or smaller) pieces. Bring mixture to a simmer over medium-high heat.
Reduce heat to low and cover pot; cook for 75 minutes, stirring occasionally.
Add hot sauce and bourbon; simmer (lid removed) over medium heat until chili has thickened (~10-15 minutes).