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We introduce first-passage resetting, in which a diffusing particle is reset to its starting point whenever it reaches a specified threshold.  We present two applications of this mechanism: (1) Optimization in a finite domain, in which a cost is incurred whenever the diffuser is reset to the origin and a reward is given when the particle stays near the reset (maximal performance) point. We derive the condition to optimize the net reward minus the net cost.  (2) We also explore consequences of first-passage resetting in a toy model of wealth sharing to try to determine whether altruism or selfishness is the optimal strategy.