Heat 2 tablespoons olive oil in a large cast-iron skillet over medium heat. Add diced baby potatoes and season with salt, pepper, garlic powder, and smoked paprika.

Cook potatoes for 10-12 minutes, stirring occasionally, until golden brown, crispy on the edges, and fork-tender. Transfer potatoes to a warm plate and set aside.

Pat steak cubes dry with paper towels and season generously with salt and coarse black pepper. Increase skillet heat to high and add 1 tablespoon olive oil.

Add steak bites in a single layer without crowding (cook in two batches if necessary). Sear undisturbed for 2 minutes to develop a deep brown crust, then toss and sear for another 1-2 minutes until medium-rare to medium. Remove and transfer to the plate with potatoes.

Reduce heat to medium-low. Melt butter in the skillet, scraping up any delicious browned bits. Add minced garlic, chopped rosemary, and thyme, cooking for 60 seconds until fragrant.

Return crispy potatoes and steak bites along with their resting juices back into the skillet. Toss vigorously for 1 minute to coat every bite in garlic herb butter. Garnish with chopped fresh parsley and serve piping hot.