Interpretation of $L_2 ([-\pi , \pi])$

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What is the interpretation of $L_2 ([-\pi , \pi])$ in laymans terms?

How is $L_2 ([-\pi , \pi])$ different to $L_1 ([-\pi , \pi])$?

Does $L_2 ([-\pi , \pi])$ just mean that the function is twice integrable in the interval $[-\pi, \pi]$?