Pat the steaks dry with paper towels, then liberally season on every side with kosher salt and freshly ground pepper. Let the steak sit at room temperature for 30-45 minutes.
heat a 12" cast iron skillet over high heat until it starts to smoke, then drizzle in the canola oil.
Carefully place the steaks in the skillet and turn every 2 minutes (this will promote even cooking) until the steaks reach 120-125 degrees for medium rare.
Reduce heat to medium-high and add the butter, garlic cloves, fresh thyme to the skillet and let it melt.
Use a large spoon to baste the steaks with the butter, garlic and herbs for about 1 minute more, or until the desired internal temperature is reached.
Remove the steaks and place on a cutting board to rest for at least 5 minutes before serving.
For the Potatoes
Par cook the potatoes in salted boiling water until knife tender and set aside.
After the steak is cooked and while it rests, add the potatoes to the hot skillet with all the leftover steak juices. Smash the potatoes into the skillet with a spatula and cook over medium heat until they start to brown, about 5 minutes.