Slice the beef. Freeze the beef for 30–45 minutes until firm, then slice into ⅛-inch-thick strips. Slice against the grain for tender jerky or with the grain for traditional chewy jerky.
Make the marinade. In a large bowl, whisk together soy sauce, teriyaki sauce, brown sugar, black pepper, garlic powder, onion powder, and crushed red pepper until the sugar dissolves.
Marinate the beef. Add beef strips to the marinade and toss to coat. Cover and refrigerate for at least 1 hour, or up to 24 hours for the best flavor.
Pat dry. Remove beef from the marinade and pat each strip thoroughly dry with paper towels.
Arrange in the basket. Lightly spray the air fryer basket with olive oil. Place strips in a single layer, with no overlapping — work in batches if needed.
Air fry low and slow. Cook at 180°F for 2 to 3 hours, flipping and rotating strips every 45 minutes for even drying.
Check for doneness. Use an instant-read thermometer to confirm the beef reaches an internal temperature of 160°F (USDA-recommended). Finished jerky should bend and crack slightly without snapping.
Cool and store. Let cool on a wire rack for 1 hour before transferring to an airtight container or vacuum-sealed bag.