$rootScope.$broadcast vs. $scope.$emit

tl;dr (this tl;dr is from @sp00m's answer below)

$emit dispatches an event upwards ... $broadcast dispatches an event downwards

Detailed explanation

$rootScope.$emit only lets other $rootScope listeners catch it. This is good when you don't want every $scope to get it. Mostly a high level communication. Think of it as adults talking to each other in a room so the kids can't hear them.

$rootScope.$broadcast is a method that lets pretty much everything hear it. This would be the equivalent of parents yelling that dinner is ready so everyone in the house hears it.

$scope.$emit is when you want that $scope and all its parents and $rootScope to hear the event. This is a child whining to their parents at home (but not at a grocery store where other kids can hear).

$scope.$broadcast is for the $scope itself and its children. This is a child whispering to its stuffed animals so their parents can't hear.

They are not doing the same job: $emit dispatches an event upwards through the scope hierarchy, while $broadcast dispatches an event downwards to all child scopes.

I made the following graphic out of the following link: https://toddmotto.com/all-about-angulars-emit-broadcast-on-publish-subscribing/

As you can see, $rootScope.$broadcast hits a lot more listeners than $scope.$emit.

Also, $scope.$emit's bubbling effect can be cancelled, whereas $rootScope.$broadcast cannot.