ng-bind vs ng-model

<!DOCTYPE html>
<html>

<head>
    <link rel="stylesheet" href="style.css">
    <script src="https://code.angularjs.org/1.4.7/angular.js"></script>


    <script>
        var app = angular.module('app', []);

        app.controller("firstCtrl", function($scope) {
            $scope.msg = "Hello :)";

        });

    </script>
</head>

<body ng-app="app">
    <div ng-controller="firstCtrl" style="border:2px solid orange; padding:5px;">
        
        <h1>ng-bind vs ng-model</h1>
        <input ng-model="msg"><br><br>
        <span ng-bind="msg"></span><br><br>
        {{msg}}
        
    </div>
</body>

</html>