If we set aside morality and the appalling experiences of indigenous peoples, and concentrate from a purely selfish colonial people's perspective, what would be the best optimum colonial strategy in the years listed?
Which parts of the world should be conquered and when? Which parts should be given up when? Which parts should be ignored as money sinks entirely?
Here's my guess:
Start off by grabbing the Aztec and Inca empires early, stealing their gold. Abandon them when there's not much left.
Grabbing less populated areas like the Southern Cone and North America and settling them as much as you can. Give local autonomy and federalise as necessary.
Then focus in Caribbean islands and North Brazil to run slave plantations, until the slave trade gets outlawed. At that point give them up.
Simultaneously in the East, try to break up powerful Empires in India and China. Try to grab as much of India, China and the Malay archipelago as possible for tax farming purposes, and Asian trade. Keep them until independence struggles become a mass movement and then pull out.
Stay away from Africa, except for staging posts. Australia also seems to be more effort than it's worth, due to distance.
Would like to hear your thoughts. I'm conscious I may be too biased for using colonies as they were used in our timeline, and that there may be other ways of using colonies more profitably.