A "take" is a way to have multiple versions of the same passage on the same track. Back in the tape days, different versions of e.g. a guitar solo had to be recorded on its own track each. In a DAW, these takes can exist on the same track: In this example, it's not a guitar solo but a synth solo. The first take is the original MIDI recording, rendered to a stereo wav on the second take and reversed on the third take. Only one take (the last one) is "active" (playing) here, but you can have them even playing all at once if you want. The important point is, each take (except the MIDI original) is stereo (each has 2 waveforms in it, one for each stereo side).