Do speed boats have friction

Ya it does. Though less, it faces friction from water, and lotsa air resistance. It having kind of rocket system so it doesn't need friction to move ahead, unlike your car; so, the water friction present is actually unnecessary-it's the weight and its placement which stops your speedboat from becoming a mini plane, stalling, and crashing upside down into the water. I think you'd have seen that in speedboat racing footages though!